Messages

1

General Discussion / Re: Property with tax arrears owing

« on: January 31, 2014, 11:01:34 PM »

Thanks for the replies and information and on this topic. I had a good meeting with the municipal treasurer and while I didn?t get a reduction in back taxes I did get favourable terms which was more than fair.

2

General Discussion / Re: Property with tax arrears owing

« on: January 20, 2014, 09:18:03 PM »

Thanks for the replies. I?m getting this property through non-conventional means. I was aware of the tax situation before I started down the road. I?m fully prepared to take care of the taxes but I thought there might be a way of seeing if I could get some relief. I had hoped that someone had been down this road and had a positive outcome?I guess I'll keep whistling. Thanks again.

3

General Discussion / Property with tax arrears owing

« on: January 18, 2014, 02:47:56 AM »

I am in the process of acquiring a property (strictly recreational, no services, no municipal road frontage) that has a large amount of taxes owing on it. There is a outstanding tax certificate on it and in the past 1.5 years the taxes owing have doubled.
Other then letting it go to tax sale and making outlandish beer bets with you guys about if it redeems or not has anyone ever approached a municipality about the tax arrears. Are there any options for me?
?   Has anyone had success getting a municipality to abate owed back taxes?
?   Is there any higher authority (IE OMB?) I can appeal the increase in taxes to try to get some relief from the huge increase in the past 1.5 years?
?   Is there an accounting 'request' I can make of the municipal bureaucrat that would ?convince? them to consider reducing the taxes?

Any idea?s information would be appreciated.

4

Property Lawyer / Legal / Re: Defaulted Mortgage

« on: July 03, 2013, 03:59:18 AM »

Thank you all for the replies.

Yes it would be a onetime thing- I'm just interested in this specific property.....no I won't divulge where it is no matter how many beers I'm offered. It's a rural piece of recreational property for hunting....no house or anything of real value.
The mortgage is currently in default to a private lender.
I would like to buy the mortgage and take the time to foreclose so I can secure the property (I realize that the mortgagor might pay it out but that's the chance I'll take)
If there were any taxes owing (I assume there might be some as they haven't paid the mortgage), can't they just be added to the mortgage statement to increase the amount owed?

How complicated would the "offer to purchase" the mortgage be? There must be a few pitfalls that one can fall into? Anything specific I should add/ look out for?

Thanks again.

5

Property Lawyer / Legal / Defaulted Mortgage

« on: July 01, 2013, 09:18:25 PM »

Happy Canada Day!

I thought I'd throw this questions out to change things up a bit. Do anyone have experience with buying a defaulted mortgage as a way of acquiring the property. It? seems like a risky proposition if the legal work isn?t done right. There might be a whole bunch of things that could come up, especially if the mortgage has somehow been paid out, but not discharged on title.

Any constructive opinions/ ideas on the subject would be appreciated.

Thanks

6

Announcements / Mississippi Mills

« on: April 07, 2013, 07:49:25 PM »

The 3rd tax sale in Mississippi Mills has been cancelled

http://www.mississippimills.ca/en/news/index.aspx?newsId=10da1543-aa91-421b-a50a-bb0817fa174b

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General / Re: Help Board Advice Needed

« on: June 04, 2012, 08:10:57 PM »

I'm just putting this out there as a matter of interest/ observation and looking at it another way.  Are you are depending on The Google and pins put on a generated map to decide where the property lines are, or did you physically see the corner pins?  How do you know the Lat/ Long of your corners? Usually hunting gangs organize their boundaries by large rocks/ swamps and what is convenient and historical (not that it is right but that's the way it's been). In speaking with surveyors over the years, bush property lines are always contentious. It is my experience that they (surveyors) need to physically be on the ground and do the work (which is a scary proposition financially)to find the property line/ pins. I find even municipalities that use GIS aren't very accurate when mapping property lines. Maybe all the surveyors just see me coming and can in fact plot corners easily it would be great if they could.
In this case seeing that the cabin is so close to the property line could the old "owner/ squatter" or his lawyer not say it is in fact his property/ cabin and tell you to go get a survey to prove it's yours? I'm not saying this is right/ wrong, just looking for other opinion?
Congrats on the purchase I'm sure it will work out.

8

Announcements / Re: Madoc - 1 - Lets get real for a minute

« on: February 14, 2012, 09:50:40 PM »

My mistake......I'll figure out the proper way to respond to threads sometime . My question referring to the Kaladar land was in reference to the land Pfm1011 was talking about in his post about the land north of Kingston not the tax sale land which I have good knowledge of it's location.

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Announcements / Re: Madoc - 1 - Lets get real for a minute

« on: February 14, 2012, 07:25:53 PM »

Thanks for the info. You learn something new every day! I didn't realize that land registry lumps everything together and it doesn't get broken down at least a little bit. You wonder what Revenue Canada does if they sell off portions and don't have a amount assigned to a specific piece of property. I do know that they are pulling a lot of wood out of there this winter, maybe that's why Dave2 was slipping and sliding all over the place.
The 1000 acres wasn't near Kaladar was it? I looked at about 700 acres a few years ago but its price definitely wasn't near the price/ acre you are talking about.
Thanks again all the constructive info on the board.

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Announcements / Re: Madoc - 1 - Lets get real for a minute

« on: February 12, 2012, 05:47:12 PM »

Hi All,
Here are a few personal observations about what is going on with Madoc. Again, I wasn't trying to give false information or misleading info. I was merely putting out some info I had heard about the area. I was pretty specific that all this was alleged and I'm sorry if people had to drive out of their way to check it out (at least you got to kill some time).  I may have been off on the #?s (acres vs. hectares) but the fact is there was a large chunk of land sold for a substantial amount of money just west of the tax sale land. This might be of interest to some on the board. I thought it good to get that info out.  I'm not interested in purchasing in the area (if anyone does have any info on the large Frontenac piece that just got tax sold they can PM me?I would be interested in hearing about it) but others might.
I still think the alleged Longyear sale's math doesn't make sense or there is more at work here?  Even at the most extreme case for their purchase- 12,000 hectares/ or 30,000 acres which Dave2 has said is more accurate (I'm not sure is this is accurate- the whole township is only 72,000 acres- the North West corner is only 14,000 acres (Barker Road north- Hwy 62 east) but let's use it for arguments sake.
12,000 hectares = 30,000 acres
17,000,000 (million sale Price.allegedly)
=$570/ acre for raw land??should there have been a deeper discount for such a large purchase?.is there more at play?.not just timber rights?
If there is a mistake with the 0?s (which I think) in the above example then that # rises dramatically. I'm not saying this is accurate, right or even happened. I'm not sure what/if any other lands where included. Again, this is way out of my league as well (I'm not even interested in betting netpred for Beers!). It is info that might be valuable to some or not.
I also made reference to the large chuck of land even further west (but not across Hwy 62) that is for sale.  I offered it as info on the weirdness's on what is going on in the area. The large chunk is currently listed and being marketed for Jr. Mining companies. http://www.realtor.ca/propertyDetails.aspx?propertyId=11046861&PidKey=-1356463688  As I said I?m not sure I've ever heard of someone trying to sell a potential mine on MLS.
How much is the tax sale land?? No idea??especially?..if you can't get the kid playing the banjo on the porch out of the house/ shack. Is there any correlation at all??? I'm not sure? Does it matter if it gets redeemed (as netpred says) anyway. It least it gives us all more information.
Again, I only offered my info as background and some info for members of the forum. It at least got some people thinking during the dog days of winter.

Happy Bidding.
Jima

11

Announcements / Changed to Madoc again

« on: January 21, 2012, 03:31:30 AM »

How do you take your coffee?. Double Double?..Double arsenic and Double radon?.I guess I'll be thinking twice when I stop for coffee at the Tim's at 7 and 62. I guess that is why you're an advanced member? I have wondered about the fencing along Hwy 7 west of 62? It's funny that there is a Conservation area just north of there?
Getting back to the tax sale land.....my comments were just some info on what I've seen in the area lately. I'm more looking for land closer to home, but what has been going on in the area is a little shocking. The tax sale land is fairly far north (I know it's not far for all the nice stuff at Deloro) $$$?s drive people to do crazy things and I'm sure if there was any money to be made on the  resources of the area whatever needed to get done will or they will fake it. Again what else would one do in the back woods of Hastings?  I'm also not sure Longyear would dump so much money into their site unless they are pretty sure of what they have (or they've made a big mistake). It's interesting for sure and I wonder what will go on?as others have said it will probably be redeemed anyway. Gold (or the hint of it) makes people do crazy things. Aren't you happy for that up in Cochrane?

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Announcements / Re: Rob is right on the ball this morning with new listings

« on: January 20, 2012, 12:40:44 AM »

There is a lot of innuendo and underlying currents in this thread that I'm not getting and that's fine....I'm a rookie. Just don't take me chiming in here as laying a wager (I covet my beer to much).?just offering my 2cent on the Madoc area.
It's interesting that just a few lots west of the one where you could bid on and:
-   Get shot
-   Buy a grow-op
-   Or become Ned Beatty

A few large chunks of land have recently sold or come up for sale. I'm not saying this is like that....but it is an interesting area and it's proximity to large urban centers makes it attractive as well as it's "rich" (poor choice I know) history.
Longyear (I hope it wasn't wrong to use this companies name as some here are sensitive about names being thrown around?)  www.jmlongyear.com  purchased a large track of land (1200+ acres) for many Millions??allegedly.
There is also a large chunk just west of Longyear up for sale www.realtor.ca/propertyDetails.aspx?propertyId=11046861&PidKey=-1356463688
Apparently the ?Rush? back to Eldorado is on! At least it's not as far as Cochrane and the Detour Site. Now we just have to find out who/ or what Jr. Mining company is going to go for it? I'm not sure Longyear is into mining that much.