dyers bay

[nihama]

Just a question about redeeming on this property.  Does anyone know if its been on the auction block before?

[g2020]

Your title search should disclose this. If you are doing your own search then be sure to ask for deleted instruments and you will find old tax sale notices, if there are any. If it was paid off the last time by a lender or other person listed on the Statutory Declaration then the treasurer will have registered a lean on title in favor of whomever paid the taxes. Just ask the treasurer. Today banks and trust companies are waiting until the day of the sale to protect their interests - others are waiting until they see what price the tax sale brings before paying the taxes immediately after the sale if the high tender is not high enough. I am surprised that you are putting in effort this early. I do not recall ever seeing the Dyers Bay cottage on a tax sale. Although OTS calls this cottage "waterfront", it is really what the locals consider water access because it has a has a little strip of waterfront across the road. The second factor to consider is the lot is too small to build upon so the existing cottage is legal non-conforming and less valuable. The third factor is the fact that in the Wiarton/Owen Sound area you seldom hear the word Dyers Bay without the suffix "indian land claims". Even "Rocky Racoon", the one good restaurant, has relocated to Owen Sound. It is hard to sell a property where you have a road between your cottage and the water - it is neither kid friendly nor is it pet friendly. The last good tax sale property in that area attracted almost a hundred tenders due to the wide distribution of the Owen Sound Sun Times so I expect a very competitive tender process for this gem of that tax sale. This is the first waterfront tax sale property of 2013, if you ignore the unbuildable piece of riverfront cliff coming up in Greater Napanee tomorrow, so I predict lots and lots of tenders, and no room for profit. Any bets?

[Dave2]

G2020:

After yesterday I have a job for you if and when you head to Wiarton in a couple of weeks.  

[nihama]

very cute

[g2020]

Nihama. I noticed that you are logged on to this topic so I will respond further to your original question - no it does not appear that Glen and Lillian have ever had their property on the tax sale auction block before. I suspect that nihama has done his/her research by now but for those of you waiting until the sale day, you will get a chance to try out the new features of the title search system. Before you complete your request for the parcel register, get into the new on-line map facility. You tax sale junkies will love it since it not only gives you the PINs on all surrounding properties to make an adjoining land search easy, you also see any reference plan numbers applicable to these lands. You can zoom in and out on the map to get a feel for the rest of the property index map in that area. The mod is just 3 or 4 days old. There are still a few bugs but you can just pick up the phone near the terminal and talk with the Teranet people about what you like about the system - good or bad. The bad news is that it costs a buck to print the map whereas before you could make a copy of what you needed for just 50 cents if you could figure out how to get the part that you wanted into the photocopier. The new maps are much better and there is even a way to avoid the dollar charge, but please don't mention this if you are talking to the developers. The other piece of good news is that the search fee is still just 8 bucks. The only serious problem I could see with any of the properties is the cottage has no legal access to Dyers Bay Road - the Property Index Map correctly shows the "trespass road" as the only entry to these lots. There is nothing on title. Trespass Roads are not uncommon in cottage country where you have to drive over someone elses lot to get to yours, and you have no legal right to do so. It just makes it much more difficult to sell. Bottom line, we have a major revision and you should allow yourself a little more land registry time to get familiar with the new features

[nihama]

Anyone have results for dyers bay?

[g2020]

Nirhama has requested the results for Dyers Bay (north Bruce Peninsula) so here is my brief recap. The Dyers Bay cottage got 37 tenders and sold for $145,125. There were 8 over 100k so to me this is a good indication of just how high prices for waterfront are going to be this year. This cottage was in poor shape, build on rubble, with the hydro disconnected and the input line removed - the roof appeared to be structurally unsound but it was a cute little cottage that obviously appealed to many. I loved the stone fireplace, and the waterfront in that area is decent. All things considered it appeared to go for fair market value, but I could be proven wrong. In a private post to some of the senior members I estimated 30 tenders on the Dyers Bay cottage and 10 tenders on the 9.95 acre strip. I was right on with that one since it got exactly 10 tenders and sold for $22,300. She bid 22.3 for this lot and only 33 for the Dyers Bay cottage - some woman are just too practical whereas I tend to bid more on emotional appeal. The Henwood Street and Scott Avenue lots got just one tender each from the same chap who bid bid 5,361 and 4,619 respectively. Nothing else got a bid.
Almost half of the tenders were submitted by ladies. It is interesting how times change. In my graduating class there was not one female and today I understand that it is close to fifty percent. Likewise with tax sales at the tender openings, females will soon dominate, but I am usually the only senior. I hope these results are helpful to some of you who cannot make it to the openings. Good hunting!

[nihama]

thanks for all your help