Ontario Tax Sale Property Forum
Tax Sale Forum => Property Information => Topic started by: tailgate on October 04, 2008, 03:53:45 AM
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Hi All,
I am brand new and know very little about real estate investments so I am, at this point, basically looking for guidance and advice. I have an opportunity to purchase 160 acres on Hwy 17 ( it actually is bordered on one side by the Hwy) in the area of Massey / Walford, Ontario. As you can imagine, it is not very expensive, given the size, and I am considering researching to buy it.
My first question would be:
If I wanted to know if a logging company would want timber rights to the property, what steps would I take to find this out? The owner has had the land for 25+ years but has never even walked on it, as it was inheritance. Does someone do a quantitative survey to tell you what quantity and grade of timber are on the property, and if so, what would this cost me to get done? Any links to relevant websites would be appreciated.
Next question:
I have been told that there are mining rights allowed on half the property only. If I had the land parcel number, how would I go about finding out if there were any limitations to the development of this land in the future? Once again, any links would be appreciated.
If I am on the wrong web site for these type of questions, I apologize. I do not want to go on a site where I will be bombarded by real estate agents, if that is even possible with this land, so any links to more relevant websites would be appreciated.
Thank-you in advance,
Corey
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A logging company would want the rights to the wood but giving rights away would be faux-pas.
Logging company should have someone to assess grade and estimate quantity.
Some companies will grade and purchase logs at road.This would profit more if you cut yourself or contacted out.
Talking to a local logger should help answer all questions.
Check with township for cutting bylaws and development limitations.
Title search property.
Mining claim information at claimaps MNDM site.
Post tags will have claim# probably old.
mls.ca icx.ca and propertyguys.com are good to assess value.
hope this helps,good luck.
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In regards to the trees, You would contract a tree marker who will then go thru and mark trees for cutting and inventory them. You then would put out the deal out to tender essentially. The lumber guys will screw you in a second so get several bids and be very clear on stumps and debris clearing.
In regards to the timber rights, They will be registered on the title. If they arent registered on title , they dont exist. That will all come out in the title search prior to closure
You will have to get a managed forest plan in place which will knock your property tax by 75% but you have to commit to 15 years of non development ( you can build a house but cant clear cut)
Dont expect much for lumber up there as there is a ton of it and its a long way to market.
If you are buying this for investment..You are dreaming as it will never be worth anything more then a 100 or 200 an acre, especially if it isnt on a lake, If you are buying it for your own use , then enjoy it, As per market value , take a look at MLS and then realize these are UNSOLD and asking, usually absolutely silly prices
Here is a few links that may help re the lumber
Ontario Woodlot association http://www.ont-woodlot-assoc.org/info_pub_guide.html (http://www.ont-woodlot-assoc.org/info_pub_guide.html)
Ministry Of Natural Resources: http://www.ontla.on.ca/library/repository/mon/1000/10294744.pdf (http://www.ontla.on.ca/library/repository/mon/1000/10294744.pdf)
Some various Documents on Forest Management http://govdocs.ourontario.ca/results?source=Ontario.%20Ministry%20of%20Natural%20Resources.&year=1999&sort=score+desc& (http://govdocs.ourontario.ca/results?source=Ontario.%20Ministry%20of%20Natural%20Resources.&year=1999&sort=score+desc&)
managed Forest Incentive Plan http://www.mnr.gov.on.ca/en/Business/Forests/2ColumnSubPage/STEL02_166346.html (http://www.mnr.gov.on.ca/en/Business/Forests/2ColumnSubPage/STEL02_166346.html)
Claimsmap for mining claims http://www.mndm.gov.on.ca/mines/lands/claimap3/disclaimer_e.asp (http://www.mndm.gov.on.ca/mines/lands/claimap3/disclaimer_e.asp)
Hope this helps