Ontario Tax Sale Property Forum
Sheriff Sales / Foreclosures => General Discussion => Topic started by: Matt on March 03, 2017, 01:37:27 AM
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Looked at the lots in Swiss Meadows.
The lot to the west is no good.
It is hilly and rocky with no public road frontage. I think most of this lot is zoned Harzadous.
The one on the right side looks OK, except the fact that all the rain water seems to be collecting to the front of the lot causing a large marsh like wet area. A good drainage plan plus earth fill will be required (that is why this lot is designated with Holding "H").
There is a shed right at the coner.
The town wanted the little part for their storage facility, so they zoned it "Public Industrial".
If this newly created zoning section is passed and now firm, a separate driveway might have to be built to access the lot from the road.
Google maps show there are old structures at the back of the lot, but I could not physically confirm them (got scared to go into the woods with all the water running wild).
The property is in a "meander belt" designated under the jurisdiction of Grey Sauble Conservation. What it means is that any structure requires a set back of 30 meters from a steam or a minimum of 15 meters from the 100 year flood level. I am not sure if one could still find enough space for septic bed area and buildings after taking out all the setbacks, buffers, and the harzadous area..
Yet, the minimum amount is relatively low while the MPAC assessment is 177K, and it is in one of the desirable areas in the Blue Mountains. If you are an experienced developer and know all the details as to how to tame this land, I think this can be a solid investment. If you are a novice, however, entirely forget it as this could be your lifetime nightmare.
So let's see how the game will be played on this one..
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The lot to the West: $122K
The lot to the East: 188K
I really hope that the winners did their homework and know what they are doing..
Any comments on the sales would be appreciated?
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I am Mountainman.
I don't intend to be funny
but the winner will makes lots of money.
For I am Mountainman.
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The lot to the West: $122K
The lot to the East: 188K
I really hope that the winners did their homework and know what they are doing..
Any comments on the sales would be appreciated?
Matt:
Sorry Can't help you. Like in poker in this business you have to know when to hold them and know when to fold them.
I am a superstitious cat and got a bad feeling about my chances about competing against someone who goes by the moniker "Mountain man" for property in "Swiss Meadows." ;) This one if you can solve the technical issues without costing a fortune, I agree with him you can make money here.
I was going to go elsewhere to the other side of the province but it didn't help me when municipality has a nice property redeem and not tell anyone or I missed the redemption notice for several days prior to the sale. :'(
Oh well got skunked again.