Any seminars that may be helpful for newcomer

[robb]

Frank
How did you know where these properties where and what was on them?  Did you go visit the spots or did you use a map to find the location.  I tried opening the PC website but it's not opening at the moment?  I sort of know what's at each location just from being from the area, curious how you did your research so quickly.

[Frank]

Simple answer, I grew up in Port.   

Long Answer, these sales are listed for four consecutive weeks in a local paper once in the Gazette.  Municipalities usually wait until near the end of the process since a number of them usually get redeemed and that cuts their Gazette advertising costs.  A friend tipped me off, and I went to the town hall to get a copy of the ad.  They are charging $10 per property for the package, so you'd better check them out first. 

The ad pretty much says where they are (it gives the municipal addresses), and a brief on what type of property they are (commercial, vacant, etc.).

This was an easy one, when they only give lot and concession info. it becomes much more difficult to locate them.

Have fun in Lids-ville (another name for Port).

[Frank]

OK, so I checked out the properties in Wainfleet eh.  Didn't see any toothless banjo players with shot-guns, but I did find out that:

The 50 acre site is pretty wet, overgrown with trees, and therefore pretty impossible to farm and get the taxes reduced.

The 6 acre site is next to a railway shuttle yard which has a works station and brite lights on all night long.  There is industrial in the immediate area, and the property is zoned 'deferred industrial' - in other words once you have an industrial use for it, then come and see us and we'll think about it.  If you wanted to build on it you would have to get the zoning cleared up first.  Interestingly, the ontariotaxsales.ca web-site says that you can get a building permit, but the Township Planner advises otherwise - current use only allowed, until it has some permanent zoning on it - current use is vacant land, again overgrown and not worth farming to get the taxes down. 

Also, not much in the way of service to either site (Phone and Hydro and that is it).   

[RichD]

Thanks Frank.

[Frank]

Did some more checking for a friend and found Crown liens as well - be very careful.

OK, so I checked out the properties in Wainfleet eh.  Didn't see any toothless banjo players with shot-guns, but I did find out that:

The 50 acre site is pretty wet, overgrown with trees, and therefore pretty impossible to farm and get the taxes reduced.

The 6 acre site is next to a railway shuttle yard which has a works station and brite lights on all night long.  There is industrial in the immediate area, and the property is zoned 'deferred industrial' - in other words once you have an industrial use for it, then come and see us and we'll think about it.  If you wanted to build on it you would have to get the zoning cleared up first.  Interestingly, the ontariotaxsales.ca web-site says that you can get a building permit, but the Township Planner advises otherwise - current use only allowed, until it has some permanent zoning on it - current use is vacant land, again overgrown and not worth farming to get the taxes down. 

Also, not much in the way of service to either site (Phone and Hydro and that is it).   

[JulyB]

Did some more checking for a friend and found Crown liens as well - be very careful.

Hi Frank,

Do you mean both properties have crown liens?  Or just one of them?

[gap]

Robb, you could email me to ask about some suggestions for getting info re: tax sales and the rich dad stuff..I have a few website and group suggestions.

[Frank]

RE: Wainfleet Sale - results just in

First property (6 acres) went for $25,050.  This is a reasonable price for this property, and I wish the purchaser good luck with getting it re-zoned.  I didn't try to mislead anyone with respect to the issue of Crown Liens - when I did the search I saw writs of Execution for $5,000 (interest compounded at 14% on top since 1988 - a significant amount by now), and thought them to be crown.  Turns out they were from Ontario Legal Aid (an agency which is almost totally funded by the Province) but maintains its independence and is not Crown.

Different story with the 50 acre site.  We thought it might be worth $80,000 or $90,000 on the market and there were bids in that range, however, the winning bid came in at $136,660 - that equates to almost $145,000 when you add GST and land transfer tax --- wow, these people must have really wanted this dream property.

[buyright]

Thanks Frank for the info on the winning tenders
as well as all the great insight to all us newbies !
cheers
Dave