Ontario Tax Sale Property Forum

Tax Sale Forum => General => Topic started by: Pmc on July 10, 2008, 01:34:58 PM

Title: Results for Central Manitoulin tender.
Post by: Pmc on July 10, 2008, 01:34:58 PM

The waterfront property was withdrawn about one week into the tender notice.
The other property, 18 acres with a road allowance, (you could get to it by an ATV) with a minimun tender of $15,648.66 had no bids and will probably be assumed by the township.

Title: Re: Results for Central Manitoulin tender.
Post by: Pfm1011 on July 10, 2008, 03:33:32 PM

Thanks

Title: Re: Results for Central Manitoulin tender.
Post by: worldjohn on July 10, 2008, 07:33:16 PM

darn, I was going to do my traditional bid a dollar more than the minimum on that but just got too busy to do any research.  Anybody know what was wrong with the property, that nobody bidded?  It was assessed at 22,000.  so it seems we just lost out on an easy 7000 profit there.

Title: Re: Results for Central Manitoulin tender.
Post by: Pmc on July 10, 2008, 07:51:15 PM

Well I only spoke to the town office this morning for a couple of minutes.  I asked if there were any Crown leans or environmental issues with the lot and she had no knowledge of any.  Of course, a full title search would have confirmed the Crown issue.  Actually, They were quite surprised that no one had placed a bid. Also, I was told that there had been no contact with the owner for quite some time.

I noticed that ontariotaxsales.ca did not have a title search available.  I'm not sure if that meant they could not get one or they just had not ordered one.

Personally, I think bidding on that lot wouldn't be worth the long commute, also, property is only worth what you can get for it, right?