Seguin Tax Sale Info - Maps Etc.

[Tri-Target]

http://www.twp.seguin.on.ca/696/public_tender_land_sale.htm

[Frank]

Here it is boys and girls....beautiful cottage for sale.... about $20grand, by the time you add in land transfer and HST (probably applicable since the cottage is unfinished and therefore might not qualify as an existing residential structure).   Within a kilometer of lake Rosseau by boat ride down the shadow river...providing you can get a dock permit, since the shoreline looks a bit like an environmental situation (my pet alligator would love it).

Here's the catch.  The lot is assessed at just under $150,000, and you could probably flip it for that in the end.  HOWEVER, and that is a big one, you will have to demolish the existing pile of sticks on the site and haul away mountains of debris that have been placed on it over the years.  Demolition of the structure, which someone began building in 1992, has been ordered by the chief building official...they can do that under the Ontario Building Code if a building is deemed unsafe for its intended use.  The town went out for demolition tenders earlier this year, and received bids between $35 and $45 thousand...probably cost you more than $50 thousand to also clean up the site.  The current owner...and I'm told that over the last 20 years there have been a parade of them...contested the demolition order, and got a judge to stay the execution.  The honourable judge also placed an order preventing any humans from going on the property, since the town was so forceful in its argument that the building was unsafe.  This is a three story cottage...you can see it on google earth, street view, from the road...which looks quite handsome with its turret and all, but never got a pass on the structural part from the town, and no one has been able to meet their rules to this point. 

Ok, so you win the bid and you're out $20, then you get a lawyer to go back to the judge and get approval to take down the structure, and now you are out another $55 thousand including your lawyer.  Still sounds good if you can flip it for $150.

Talking to town officials (who are under a legal gag order) you find out that there are additional costs.  The Ontario Building Code enables the town to recover all of its costs for the demolish order.  This has been a long, drawn-out battle, and it has to be substantial.  Town officials wouldn't say...or possibly couldn't say...how much they would be looking for, but it sounds like quite a bit.  I and other experienced tax professionals will guffaw and tell you that they can't recover those costs after a tax sale, this is untested ground and there will be challenges.  However, the town officials are under the impression that they still can...so in come the lawyers. 

No doubt the town will have high paid professionals on hand...you will have yours...and let's not forget the current owner has an existing battle on the go, and a judge might just through everyone out with the bath water.  My lawyer has advised me to stay clear...he is interested in keeping me out of hot water and not just my money. 

I would think that this one will be redeemed by the current owner at the last minute...they didn't spend all that money to get a judge's order for nothing.  But then again...likely if it does go to sale someone will bit $300 on it thinking they are buying a lot with a usable cottage that might fetch half a million.

This is certainly one to watch...but sadly it may not be settled within my lifetime. 

[Dave2]

This is certainly one to watch...but sadly it may not be settled within my lifetime.  

Gee I wonder if there is a simple solution by talking to the Fire Chief. Or alternatively if you have out of this world connections

" Darn lightning strike"  

[Frank]

Word has it that tomorrow is 'redemption' day for #2 Knowles.