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51

Member Experiences / Re: Re: Re: Tax sale has no fun no bargain anymore!

« Last post by Dave2 on May 15, 2022, 12:17:23 PM »

It's interesting why they paid so much for that property.
pos system Phoenix

I think it's because of the location of the property. If the place is accessible to all, that might be the reason.

The market is the market.    You just have to accept and adjust to it.  Hopefully you are in a position to adjust to it  
In markets like this an old stock market saying applies. 'SELL (not buy) in May and go away.'

Now is the time to clean up and sell your mistakes especially in markets like this where you have to often do it yourself
because the real estate community gets lazy and is not interested in low commission, difficult to sell properties.  
Those who say they don't have any, are not being honest.  

Mistakes take time and a lot of effort to sell. Like the one property I sold with 55,000 hits and 1,000 responses including
the drunk ones who called me at 2.00 am in the morning.

In this business you will get surprises both good and bad.  Those who say they understand perfectly how a conservation authority
will rule are dreaming.   If you say you don't have any you are not bidding it right because you are not taking any risks.
To minimize the bad ones takes takes a lot of time and costs money.

Of course if you do it right sometimes you get another type of surprise.   Like this  tax sale for a property whose had a
former owner from  Germany.  https://www.vladi-private-islands.de/en/.   The most exotic private island seller in the world
and I can prove it.  He doesn't touch anything unless it is first class.

We also miss opportunity.   I still wonder if I should have bid the jewelry mine tax sale of a few years ago that got no bids.

In general  with tax sales the the odds of bad news are much higher then good news.   That is why a good purchase
price is so important.  As someone accurately said with tax sales you have to remember
 " There is a problem with the property or the owner".   Bidding close to market price is usually only
 justifiable if if you own an adjacent property.

52

Member Experiences / Re: Re: Tax sale has no fun no bargain anymore!

« Last post by daftdaft1996 on May 14, 2022, 08:17:51 AM »

It's interesting why they paid so much for that property. drywall companydrywall contractors jewelry stores Austin Vehicle Maintenance in Garland Texas home awnings in Olivet New Jersey
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I think it's because of the location of the property. If the place is accessible to all, that might be the reason.drywall servicescontact us

53

General / Re: Re: Dangers of the game Elizabethtown Kitley / Georgian Bluffs

« Last post by Pfm1011 on March 06, 2022, 02:56:42 AM »

Didn't follow the 99 ac in Elizabethtown. Checked OTS results after. I believe there was one time OTS showed it was sold for the minimum (so was the 72 ac. glitch?) ... gee, Dave2 must have been on vacation.  
So I tendered a little over the minimum for the 96 ac in Georgian.   That was obviously opportunistic.  There were many tenders with the highest over 600k. Many in the 500k, 400k, 300k ranges. Not sure if it's worth it. There was a 100 ac +- a little further northwest in BP recently listed and sold for 500k +-.

I was just under 300 on that piece. I  didn't  think worth 500 or 600 but  i'm not from the area a local who wants to build a house there would be worth more

54

General / Re: Re: Dangers of the game Elizabethtown Kitley / Georgian Bluffs

« Last post by Dave2 on March 05, 2022, 06:19:37 PM »

Didn't follow the 99 ac in Elizabethtown. Checked OTS results after. I believe there was one time OTS showed it was sold for the minimum (so was the 72 ac. glitch?) ... gee, Dave2 must have been on vacation. 

Jayz:

Dave2 is not smart and rich like you and PFM.   He had the (bad) luck to choose io compete on  a close by bid where they all redeemed  .   Also
my survival on this planet would be questionable after I had to advise my significant other that I had lost a 20% deposit at these prices being bid.

To add insult to injury I was trying to sell some not great quality land at the same time, verbally negotiated the price and found the paperwork price was 1/3
less then what we verbally agreed and the signing deadline allowed me well less then an hour hour to complete the transaction.  Needless to say I did not sign it back.

One legal caution  for every one, remember a verbal sale agreement on land is not enforceable.   

55

General / Re: Dangers of the game Elizabethtown Kitley / Georgian Bluffs

« Last post by Jayz on March 04, 2022, 05:39:13 PM »

High or low, it looks like the 74ac in Elizabethtown Kitley and the 96ac in Georgian Bluffs got canceled after their respective opening. 

56

General / Re: Dangers of the game Elizabethtown Kitley / Georgian Bluffs

« Last post by dm1974 on March 04, 2022, 05:09:32 PM »

I was thinking of bidding on that gutted historical house on 6th concession.  I got sick leading up to it and decided not to put the effort in.  I would have had second place bid.  For the big diference, I am almost sure the winner was the neighbor right beside it not wanting new people in his oversized shed


As an aside, anybody got the results of Head, Clara and Maria?  Wonder what the motel went for...

57

General / Re: Dangers of the game Elizabethtown Kitley / Georgian Bluffs

« Last post by Jayz on March 04, 2022, 04:24:51 PM »

Didn't follow the 99 ac in Elizabethtown. Checked OTS results after. I believe there was one time OTS showed it was sold for the minimum (so was the 72 ac. glitch?) ... gee, Dave2 must have been on vacation. 
So I tendered a little over the minimum for the 96 ac in Georgian.  That was obviously opportunistic.  There were many tenders with the highest over 600k. Many in the 500k, 400k, 300k ranges. Not sure if it's worth it. There was a 100 ac +- a little further northwest in BP recently listed and sold for 500k +-.

58

General / Dangers of the game Elizabethtown Kitley / Georgian Bluffs

« Last post by Pfm1011 on March 04, 2022, 03:02:01 AM »

There was two large pieces of land that sold in Elizabethtown

Mckay rd was 99 acres near a swamp , a railway with an gutted house. Maybe 250K to 300 value

The winner was on zoom and excited at a 189K.  Problem was a crown lien for income tax from 2008 for 232K  .Add interest and there is 600 K surprise.  The winner was on the zoom and said he had no clue...Ouch . Said he had lawyer do search and said not to worry...oops.. not sure if he walked or not. Have to check geo in a few months.

I always use OTA even though I have Geowarehouse.  Just remember to get a search thru Tri-target or OTA. His lawyer probably charged him more and screwed it up.  Good luck with the Lawpro claim.

There was also 74 acre former quarry,  Good piece as there is at least 5 lots and extra 60 acres. Winner paid 350 and did not know about environmental issues looking at 100 to 150 cleanup HOWEVER even after cleanup there is nice profit to be had .

In Georgian today 99 acres went for 470 I think , I didnt catch it all.
House burned down and 30% EP , Nice piece with a pond...and city sewage lagoons  just north. Not to worry as prevailing winds come from the west and apparently lagoons dont stink..Didn't stop me from bidding..

That said as the house was burned down and had a leaky oil tank there is some extra costs  This is  also conservation authority so clean up must be squeaky
 Just something to watch for as Im sure that could be 50 K

Side note. Elizabethtown did a zoom and was professional as hell. Inspected envelopes , tossed a pile for wrong name  and clearly read out quotes and deposits.  Well done

Cool part of the zoom was all the chat going on the whole time

59

General / Re: Tiny Toronto Tax Sale Property Comes On The Market

« Last post by ErnestBidder on March 03, 2022, 02:54:45 AM »

  The answer is in the CTV story, all you have to do is read it.

60

General / Re: Tiny Toronto Tax Sale Property Comes On The Market

« Last post by daftdaft1996 on February 18, 2022, 12:36:52 PM »

I remember this auction, I remember looking at this piece of land thinking what could one possibly do with it...

Now I see a bunch of articles about it asking the same question...

And yet still no answer

https://www.theglobeandmail.com/real-estate/article-an-eight-inch-start-to-real-estate-riches/

https://www.blogto.com/real-estate-toronto/2021/12/1060-danforth-avenue-toronto/
google.com/maps/place/DC+Drywall+Contractor+Pros/@38.9230868,-77.0002967,17z/data=!3m1!4b1!4m5!3m4!1s0x0:0x2e3a9bbb3d478cf9!8m2!3d38.9230868!4d-76.998108
https://toronto.ctvnews.ca/vacant-piece-of-land-less-than-30-centimetres-wide-hits-the-toronto-market-and-it-s-attracting-attention-1.5694423

I am here to look for the answer to that question but still no answer, I dunno where to ask since they are not responding to my concern.