Kawartha Lakes

[butchard]

What was with the vacant land at kawartha lakes going for $122,000  And did any one ever here how the people are doing that purchased the properties from northern bruce penninsula?

[mozzy]

Totally shocked at $122,000, I looked at it, swamp with a creek running in the middle, did i miss something?

[Dave2]

Totally shocked at $122,000, I looked at it, swamp with a creek running in the middle, did i miss something?

I believe Mountainman already referred to this in his own way.  Seems to be typical of some tax sale bids these days. 

I bid on something else but got totally wiped out (came in 4 - 6th) in the same tender.  Even had to spend 10 minutes over lunch
at Kirkfield cemetery (relatives are buried there) trying to persuade my boss that we should bid as she felt property was not worth bidding. 

She would have ripped up my bid but I persuaded her was not good value given that we should return our deposit draft to the bank. 

Makes one wonder if I should invest in something else.  Anyone think there is potential in these new garage door covers.

http://maggiesfarm.anotherdotcom.com/archives/28475-Garage-door-covers.html#extended

Mountainman got me thinking though on one thing.  Anyone heard of someone buying the second place bid. 

[Matt]

My pursuit for big bucks has not been too successful.
They were either redeemed at the last minute or sold for at equal to or higher than market prices.
As Mountainman has said, I would never pay market price for tax sale property regardless...

Tax sales are becoming very hard to play as there are too many players with too easy access to information.

Anyways, I would love to hear from Mountainman again as he seems to know more than what is being said on the Kawartha properties.  

[mozzy]

I would love to know as well, paying $122,200.00 for  swamp makes no sense to me, second highest bid came in at $30,000 and that is still too high.

[butchard]

will just have to see tommorow what the brace bridge properties bring.

[mountainman]

I am Mountainman

Not a word of this post is a lie

the lot with the bylaw does not comply,

Sometimes a variance may be a while

but in this case I fear the lot is completely sterile,

Alas bidder numbered two

to this quest is completely new,

For a second bid to be sold

one would need a player more bold

But the future that none foresee

is how the owner in one year will be,

Let me ask you what you would do

for fifty thousand is it worth it to sue?

For I am Mountainman

[Dave2]

My pursuit for big bucks has not been too successful.
They were either redeemed at the last minute or sold for at equal to or higher than market prices.
As Mountainman has said, I would never pay market price for tax sale property regardless...

Tax sales are becoming very hard to play as there are too many players with too easy access to information.

Matt:

Don't feel bad.  I got skunked too.  As someone once said in another arena.   "If I ain't losing some then I am overpricing (ie over bidding)
them."

I look for other clues as to what is happening.  Best illustration is another property that sold on Kawartha lakes for ($15,000)

Roll: 1651 210 03055120.0000  

Legal Description:

Part east half Lot 16, Concession 9, geographic Township of Fenelon as in VT42343 except R255874, R334814, R379868, R404738, R406747, R465367, R461413, City of Kawartha Lakes, being all of PIN 63160-0369(LT)
 
Pure swamp and zoned E. P.  Rumour has it winner was fronting for this builder.  (see photo)

He did not want to build on the other property because not a good quality swamp.  

If tax sales are like this I will go for plan B.  It has already worked for me this year and I will devote normal tax sale effort to it until like the song says "see you in September".

Mountainman look forward to fighting you on the jousting field again in the fall. 

[Jayz]

Am I the only one who dares to say straightforward this is a mistake? Swampy or not, the lot is too small to build on. This appears to be a typical "homework not done" taxsale mistake, IMHO.

[Dave2]

Am I the only one who dares to say straightforward this is a mistake? Swampy or not, the lot is too small to build on. This appears to be a typical "homework not done" taxsale mistake, IMHO.  

Jayz:  

Too early to tell.  We don't have all the facts yet.  Mountain man called the future if you read his post carefully:  

"But the future that none foresee

is how the owner in one year will be, "  

It is obvious the first place bidder wanted the property.  We don't know the why.  

Your post is one scenario.  

The second possibility is he or she has excellent 'local' knowledge of something we are all assuming is a negative.  

The third possibility is he or she is a neighbour and has a valid reason for wanting the property.  

The first indication any of us will get is if in a couple of weeks the second place bidder is notified that the first place bidder
walked away from their bid.  IF not and the second place bidders deposit is returned we know they wanted the property.

It is interesting that on the way up to Kawartha Lakes we took a side trip to see what happened to a tax sale last fall that I and I believe Mountain Man both bid on and I believe both lost (if not I now know Mountain Man's real identity).  

My conclusion is I UNDERBID it with the advantage of hindsight.

I have at least one situation earlier this year where I deliberately bid "SIGNIFICANTLY" higher then the market price.     It was not a tax sale and I am sure very few people know about it.   It was one of those cases where I am a neighbour on one side, and the other 3 neighbours (all locals) all wanted it.  I had been waiting for it for 2 years and was the most important thing I will do this year.  

The last time this piece of property changed hands was several decades ago.

The situation now is a) I own the property and my neighbours are not happy but there is nothing they can do about it.  

2) My winning bid was about 60% of MPAC valuation and my average cost for it and several adjoining pieces of land is well below market.  I now have a significant piece of property for Southern Ontario.    

3)  I am working to have peace with my neighbours and if successful I will now start to be accepted as a local if I keep the property.  

For Kawartha Lakes I don't really care.  Since the bid I reaffirmed why I did my unsuccessful bid and I move on to the next one.   On mine the winning bidder may find an expensive lesson in septic bed construction but will still pay less then a market price buy.  

To Mountain Man " Ave, Imperator, morituri te salutant"  

[butchard]

I wonder what the 3 properties on the island went for today.  I though for sure they would of been redeemed.

[Dave2]

I wonder what the 3 properties on the island went for today.  I though for sure they would of been redeemed.

No surprise they did not redeem.  Lets just say some owners were in a lot of trouble with Revenue Canada to put it mildly.  I just hope that no one bid on those particular affected properties as the winner will be in a for a very expensive shock.

[peach17]

I thought the 3 tax sales Oct 26th were cancelled.

[mozzy]

Yes tax sale cancelled for all three

[Dave2]

Yes tax sale cancelled for all three

No real surprise given how deep Revenue Canada had liens on the properties Eg lot 2 for almost $700,000 six years ago.

These are nice properties but they are not worth these figures.  Municipality maybe trying to negotiate with Revenue Canada
to see if they will be reasonable or not, otherwise these properties will never get sold.   

This why you do title searches as the winning bidder would have then owed Revenue Canada this amount.