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Interesting Risks on Upcoming Trent Hills Tax Sale

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Dave2:
Some interesting risks on the upcoming Trent Hills tax sale (more then 1 property)

221 Banta Road (Warkworth) former meth lab.

https://www.northumberlandnews.com/news-story/3911980-update-ministry-of-environment-assisting-police-with-meth-lab-clean-up/

At the other site make sure you get the oil rights. (hint hint)  What is really risky is this potential risk does not show on title because the electronic ownership record does not go that far back when it was transferred to land

titles.    i.e.  this risk problem happened so long ago the only way to find it was in a pre world war 2 aerial photographs and to search the registry books.    

Proving either of these properties saleable even if there are no problems is expensive.   Standard Phase 1 environmental costs are about $3,000 and Phase II costs are about $4,000 (PER BORE HOLE) including taxes (HST) for both.  

I am not certain if there is a surcharge for former meth labs.  

Frank:
Dave

Let me know if you need boreholes....I have connections in that industry.   

Your hole is our goal. 8)

Once the geo-tech work is done and if there are contaminants found, then the real dollars start to roll out for the clean-up.   Might as well take your dollar bills and light them up as you pour them into the hole that I have drilled for you.

mountainman:

--- Quote from: Frank on September 24, 2018, 11:29:59 PM ---Dave

Let me know if you need boreholes....I have connections in that industry.   

Your hole is our goal. 8)

Once the geo-tech work is done and if there are contaminants found, then the real dollars start to roll out for the clean-up.   Might as well take your dollar bills and light them up as you pour them into the hole that I have drilled for you.

--- End quote ---

I am Mountainman

Frankie, Frankie, Frankie

now you want to be me?

Your hole

is our goal?

For I am Mountainman

Dave2:

--- Quote from: Frank on September 24, 2018, 11:29:59 PM ---Dave

Once the geo-tech work is done and if there are contaminants found, then the real dollars start to roll out for the clean-up.   Might as well take your dollar bills and light them up as you pour them into the hole that I have drilled for you.  
--- End quote ---

Frank:

I don't know where you are getting away with only one borebole, more likely five i.e. one for each corner and

one in the center if you want an all clear engineering certification. i.e. $20,000 alone just for the testing.

My first rule of holes is, "Stop digging".  

The only saving grace with these properties is I do not expect them to be redeemed.

This is a risky business.   I think it was you or PFM who said long ago the first rule of tax sales.   " With tax sales you have to remember there is a problem with the property or the owner"

In this county this is the third tax sale in a row with contaminated property on the sale.   LOL

Dave

Frank:
Dave

Five or more, depending on the property and its past uses as revealed in the Phase I.  

Never say never as to redemptions.....perhaps Curtis (aka Hill-Billy) will work out a deal with the current owners and scoop up these lovely gems.

If you are in the hole boring business, then that motto makes perfect sense.

 8)

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