Ontario Tax Sale Property Forum

Sheriff Sales / Foreclosures => General Discussion => Topic started by: Pincher on February 02, 2010, 05:37:38 PM

Title: Tay Township
Post by: Pincher on February 02, 2010, 05:37:38 PM

Anyone have any info on this property?

What's the easement for, and where do you goto find out?

Thanks

Title: Re: Tay Township
Post by: PG on February 05, 2010, 12:48:11 AM

I am new to these tax sales and jumped the gun by ordering a title search on the property before I discovered that it was in a low lying flood plain.

There is not an easement on the title, but rather, a CRA lien for unpaid taxes in the amount of $28,475.
I'm not sure if you would receive clear title without the CRA lien, but I suspect that Revenue Canada would want its pound of flesh.

The $28K lein was the smaller issue compared to the fact that the lot would not comply with the bylaw regarding height and proximity to Georgian Bay.

If you can't build a cottage on the lot, I don't see the value in it.

But who knows, maybe you could clear the land and park a trailer on it for the summer and be satisfied in that.

Title: Re: Tay Township
Post by: Jayz on February 05, 2010, 01:26:08 AM

Dude, you could have saved $150 if you'd checked this out first.  :)

http://taxsaleproperty.org/forum/index.php?topic=1092.0

Thanks for sharing the info though.

Title: Re: Tay Township
Post by: netpred on February 05, 2010, 01:58:40 AM

Quote from: Jayz on February 05, 2010, 01:26:08 AM

Dude, you could have saved $150 if you'd checked this out first.  :)

http://taxsaleproperty.org/forum/index.php?topic=1092.0

Thanks for sharing the info though.

At least PG saved him(her?)self 20 or 30k or more by doing a title search. Pity the poor sucker who bids blindly on this one.

Title: Re: Tay Township
Post by: netpred on February 05, 2010, 07:55:04 PM

Quote from: Ms.T on February 05, 2010, 07:06:46 PM

so you think nobody will bid on it? has anyone ever bid without doing any of those searches?

I don't know if there will be any bids. Beauty is in the eye of the beholder.

As for your second question, yes. Browse the forums here for a few stories about what can happen if you don't do your due dilligence.

Title: Re: Tay Township
Post by: worldjohn on February 05, 2010, 08:40:12 PM

Lets summarize this gem.
Crown lien
Flood plane
bad shoreline
As well I dont know if its been mentioned yet but 11 owners across the street claim to have deeded access through this lot.
Could it possibly be any worse?

Title: Re: Tay Township
Post by: PG on February 05, 2010, 10:21:45 PM

I'm new to this forum and as such jumped the gun by spending money on a title search,  when I could have found most of the information right here on this forum. I appreciate everyone's valuable input which is most helpful in considering these properties. Thanks Jayz and Worldjohn
 
I'll still do title searches in the future, but will hold off until I've at least read comments on this forum.

In any event, I found that Teranet offered title search service for this property for $71 which I found to be reasonable.

Cheers,

Peter