Hamilton Tax Sale - Posted Date October 31

[Rob]

A member of this forum informed me they couldn't find the Hamilton tax sale property listing posted in the gazette on October 31, 2009. 

The actual listing was always found on this page: http://www.taxsaleproperty.org/Tax-Sale-Ontario-31-October-2009.html as the last listings.

What I missed was including Hamilton in the main summary on the main page and in the title of the page above.  I apologize to everyone who missed the property and the sale because of that oversight.

I try to provide the most accurate listings possible but at times certain information is can be missed.  In the history of this site I've personally missed one property in the summer 2006 (points for those members who can find the missing property) and October 31, 2009 I've missed putting Hamilton in the main page summary and title on the listings page.  My goal is 100% perfect accurate listings but tax sale property hunting can be serious business and it's best to check with other sources such as the gazette to ensure you have every single piece of property information. 
 

[Prospector]

You do great work Rob. No complaints here. I would never rely on only one source for info anyway.

Went to the bid opening yesterday. All redeemed but 3.  Here are unofficial results:

19 Burris Min Bid $27,296.98 (I didn't write down the first few bids):
Winner: $103,565.00........... Bidder initials: BTP
Second:  $85,005.00
Third:     $83,100.00
26+ Bids Tendered

121 St. Joseph's Drive Min Bid $154,081.41
Winner:  $205,081.41
Second: $200,555.84
Third:    $200,200.00
5 Bids Tendered

1084 King St. Min Bid $28,057.75
Winner:  $128,565.00..............Bidder Initials: BTP
Second: $125,005.00
Third:    $102,368.54
24 Bids Tendered

Since both "single family residential" type properties went to the same bidder at a higher than expected price, to a business-named bidder I would be interested if anyone has insights to the winner's model. The "p" in the winner's initials stands for "Paralegal"...

[Frank]

Rob...you do a great job...however, like you say 'it's best to check with all sources available'...and of course the gazette is the fail-safe.   

The property I was going to bid on got redeemed on Friday...dam, there aughta be a law against that.

I'm not at all surprised with the results as posted.

[Prospector]

Frank, doesn't the 20K gap between 1st and 3rd point to something in your eyes? I ran some stats and the distribution on this one is a little different. There are definate peaks pointing to different strategies at the opening. Here are my assumptions:

Peak 1 - cheapies - (Get it for nothing and who cares what comes next)
Peak 2 - flippers - (Pay a reasonable price, make improvements, come out with reasonable profit)
Peak 3 - hold for value - (Pay retail, rent it out, sell in 10 years)

Retail for both of these looks to be in the 100-130K range.

Also - what wsa up with the woman who ran out after property 2 was read out? Did she have a real gripe? Seems she wrote the wrong bid down?? Did anyone catch what her actual problem was? She seemed genuinely upset, but was obviously having trouble with her english.

[Frank]

Also - what wsa up with the woman who ran out after property 2 was read out? Did she have a real gripe? Seems she wrote the wrong bid down?? Did anyone catch what her actual problem was? She seemed genuinely upset, but was obviously having trouble with her english.

I wasn't at the sale.....however, I understand there was a definite language barrier.  The lady submitted a large enough deposit to have won it, however her bid only got her second spot.  She was apparently trying to argue that the City should do the math for her.

Burris is definitely an overbid, based on the condition and maximum value of the property at that location.

Expect King Street may still be redeemed prior to registration of the tax deed.

[Larry]

Hi, everybody

Wanted to bid on #3, but it got redeemed, as Frank said previously. I also think the one on King will be redeemed, the city clerk said he was in contact with the owner for this reason.
Larry

[pjdd]

Also - what wsa up with the woman who ran out after property 2 was read out? Did she have a real gripe? Seems she wrote the wrong bid down?? Did anyone catch what her actual problem was? She seemed genuinely upset, but was obviously having trouble with her english.

I wasn't at the sale.....however, I understand there was a definite language barrier.  The lady submitted a large enough deposit to have won it, however her bid only got her second spot.  She was apparently trying to argue that the City should do the math for her.

Burris is definitely an overbid, based on the condition and maximum value of the property at that location.

Expect King Street may still be redeemed prior to registration of the tax deed.

[Pfm1011]

you can keep telling us how he paid too much, he has two  houses he can sell at a profit, ( a healthy one I am betting) ..we do not . 



On any taxsale.. Anyone I beat thinks I overpaid , and I think anyone who beat me overpaid

[pjdd]

you can keep telling us how he paid too much, he has two  houses he can sell at a profit, ( a healthy one I am betting) ..we do not . 



On any taxsale.. Anyone I beat thinks I overpaid , and I think anyone who beat me overpaid

That quote Anyone I beat thinks I overpaid, and I think anyone who beat me overpaid is probaly the best quote I have read in this forum because it is so True. I was one of the 26 bids that lost but thumbs up to the winner.