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Property Information / Re: Minden Hills Properties
« on: November 18, 2006, 05:10:08 PM »
So this tax sales went well. Now let's do the math. There were only 2 pieces of properties have some meaningful value: the one on Bob lake and the old cottage on gull lake.
The bob lake one is kind of ironic, cause it was on the market but unsold for a long time before forced to tax sales. I am not sure how much the asking price was, but 27 bids and sold for $65206 here. The listing broker definitely didn't do a good job. Based on the description above, 65k may be well over the market price.
The cottage on Gull lake is sold for $40000. Based on the condition, it may need another 30ks to fixed it up. The total cost is somewhere 70ks, which is more than it's accessed value 68k. Some say (Frank that is, and I agree) 68k is aleardy high. It is step to the lake but not waterfront, and you couldn't even lounch a boat there.
I think some people are really taken away by the tax sales game. We supposed to buy it on deep discount. Anyway, good luck to the new owners.
The bob lake one is kind of ironic, cause it was on the market but unsold for a long time before forced to tax sales. I am not sure how much the asking price was, but 27 bids and sold for $65206 here. The listing broker definitely didn't do a good job. Based on the description above, 65k may be well over the market price.
The cottage on Gull lake is sold for $40000. Based on the condition, it may need another 30ks to fixed it up. The total cost is somewhere 70ks, which is more than it's accessed value 68k. Some say (Frank that is, and I agree) 68k is aleardy high. It is step to the lake but not waterfront, and you couldn't even lounch a boat there.
I think some people are really taken away by the tax sales game. We supposed to buy it on deep discount. Anyway, good luck to the new owners.