Ontario Tax Sale Property Forum
Tax Sale Forum => Member Experiences => Topic started by: Dave2 on September 25, 2011, 11:56:14 PM
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Netpred:
Finally got (A downpayment???) on his well deserved beer winnings and I even learned that he has more clout then I can imagine because who else has the power to change the bid packages so his competition is knocked out. (see Marmora and Lake postings of a couple of years ago).
Really enjoyable discussion on a sunny Sunday afternoon that lingered until the sun went down. Perfect end to the summer and I think I even gave Netpred an insight
why he won't have to worry about me this fall. (what he says about it is up to him)
or even the start of winter. ;)
Some interesting discussions about floating a cottage down to Prince Edward County. and which is the narrowest lock on the Trent or Murray canal system.
Some real interesting arguments about the best strategy to employ selling property and a whole bunch of discussions on buy strategy.
Time for some others to step up to the plate. Haven't heard from DRD for a while and maybe he is still up in Manitoulin island. Unfortunately I have too many other priorities.
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A few comments:
First. Dave pays his debts. Not with crappy North American beer but with the finest of ales. He also pays his debts in places that usually will kick people like me out.
Second. Dave is correct. I am all powerful. I have the power to change tenders and bids. So there is no point for anyone to bid on any properties for the rest of the year because I will simply change your bids to an amount lower than mine. So, save your money and do not bid ;D.
Third. The deal that is keeping Dave out of action is, IMHO, the real deal. There is a chance at multiplying the investment by 10 times. There is some risk, but in the long term (10 years) this could be a big time winner. There is a short-cut that could result in the gain within two years but Dave is ignoring the netpred seal of approval. It is all about hydration if you will. It mtters not from where because beeer is beer. This is the type of deal that comes along a few times in a lifetime. There is, however, risk.
Fourth, I could not help but think (as fine ales were downed) that it would be great if we had been joined by some other members of this board. However, the reality is that most members are simply not active enough to be included in this sort of thing. So I guess the point is that if you want to get intimate, you have to contribute.
Last, it was a perfect end to the season. Thanks Dave.
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Fourth, I could not help but think (as fine ales were downed) that it would be great if we had been joined by some other members of this board. However, the reality is that most members are simply not active enough to be included in this sort of thing. So I guess the point is that if you want to get intimate, you have to contribute.
Last, it was a perfect end to the season. Thanks Dave.
I have tried to get people together in the past but it has not worked. The sad part for me as we discussed is the high tax sale bid prices around here. I don't why it is but we seem to have attracted all the UNREALISTIC high rollers into this region (Northumberland county through Lennox and Addington to Kingston / Perth and north to Algonquin Park) >:( and as a result it increasingly doesn't make sense to work this region. So this may have been a syonara type of event. :'(
You are lucky as your base of operations is two hours driving out of this region and you can shift as others have. (I wonder if that is why people like DRD are going further afleld and I am switching to other types of purchases).
Ever thought of having a beer in Moonbeam. ;D or I guess I wonder what type of beer a Bigfoot likes. ??
Personally once this big meal is past I may have to play closer attention to some of the work PFM is doing to find out where affordable property exists.
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I am alive! ...I did not yet recieve my invite for beer gathering, been busy on a few projects of my own... did bid on a few in kawarta but as a bottom feeder was quickly outbid.
Cheers
Doug
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I am alive! ...I did not yet recieve my invite for beer gathering, been busy on a few projects of my own... did bid on a few in kawarta but as a bottom feeder was quickly outbid.
Cheers
Doug
Nice to hear from you. I hope you and everyone else has success this fall whereever you are interested in. We all complain about the high bids in Ontario, but things can be worse as this news article from B.C.
shows. If you want to drop by I could always ask Netpred if he is willing to share his winnings.
No properties change hands during annual tax sale as city outbids interested parties
By Robert Barron, Daily News September 27, 2011
The city of Nanaimo outbid all interested parties on the 35 properties listed at the annual tax sale, held Monday morning at city hall.
Only two people bid on a number of properties at the sale, which lasted just 40 minutes.
They indicated they were not happy with the city's two-yearold policy to try and outbid all others on the properties in order to give homeowners additional chances to get their property back, rather than lose it at the auction.
The city originally notified more than 200 property owners in Nanaimo who have been delinquent on paying their municipal taxes that their properties would be auctioned off at the tax sale unless they brought their tax bills up to date.
The vast majority paid their taxes since they received their notices, with some paying them early Monday morning before the tax auction, leaving just 35 properties on the block, with the city quick to outbid the few offers that came in.
"It's a fact that very few people bidding for properties at these sales care about the owners who are, in many cases, still living there," said finance director Brian Clemens to those who questioned the city's new policy after the auction.
"The idea behind the policy is to give those who are behind on paying their taxes as much opportunity as possible to keep their properties. There's a story behind every one of the properties listed at the sale."
One man who unsuccessfully bid on six properties said he wasn't aware the city intended to try to outbid all comers.
However, the man, who declined to give his name, said attending the auction wasn't a waste of time.
"Maybe it's better off to let the city outbid everyone so then I can contact the property owners myself and make them an offer," the man said.
"After all, I imagine a few of them are going to lose their properties anyway if they still can't pay their taxes."
The only other bidder at the auction, who also didn't want to give his name, was not so conciliatory.
"I have no idea why they even had this sale if the city intended for no one to win any of the bids," he said.
"This strikes me as a totally flawed and pointless exercise for everyone concerned."
The city will now give the delinquent property owners one year to bring their tax bills up to date and Clemens said it's up to the discretion of council to determine what happens to them if they still have not paid at that time.
However, he said that in his more than 20 years working in the city's finance department, very few of these properties end up being sold to a third person.
RBarron@nanaimodailynews.com 250-729-4234
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