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Questions and Answers / Re: FIRST TIME BIDDER
« on: June 29, 2010, 04:39:20 AM »Never let your wife buy property alone or sell your cars or your toys alone.
PFM1011:
You mean your significant other tried to sell your boat. Must be all those (No doubt shapely) accessories she is worried about.
On a more serious note the buying and rebuilding of existing tax sale structures is an art not a science in which I wish I was more skilled like you and Frank. The other problem is that it takes a lot of time and is very hard to budget until you open it up.
The best evidence I have of the time it takes is how quiet the board has been because I know that some members were successful last year and this year they are tied up in implementation, especially as if you wish to avoid HST you needed to get the work done before a week from now.
That is why unfortunately people like Brady may have to drive up to Minden (nice drive however ).
My significant other does have a point though. We are really arguing over the value of a 1,200 sq. ft. rebuilt cottage. Not fancy but functional. I know what a new one would cost, (Your posts on Napanee last summer provide a good background of the numbers for newbies.) and this one maybe a fraction of the regular cost.
But the style is dated. It will serve well as a guest cottage and the space for the new one is already identified. That is the advantage of a lot of land.
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My opinion is to get market appraisal done for the street (any RE agent will do it and may email it to you). I think the median price for the area is between $280 hardly $300. Did you look at the houses for sale on the street? I think they are "sitting" for over 30 days and they are in move-in condition and less money?! Why would you have the hassle & the work if you can get it cheaper?! I agree with the other posts, if its to be yours, you'll get it with $50K... then spent the extra $100 - $150 and you'll have it for $200K that's A good deal!? but don't go over board on the first one...its just not worth it and you may get stuck with it.