For once I am in full agreement with the sentiments of mountainman. However I disagree with the wording of pfm101. He shouldnt be Describing the low bids as 'ridiculous' as these are the type of bids that might have won just a few years ago. the word ridiculous should be used instead of "winner" for the moronic rich idiot who overbid by 200,000$ and is ruining the fun and profitability of this tax sale game by paying more than retail. Im starting to think that instead of selling land I should just let it go to tax sale and end up getting more than I would using a real estate agent and save on commission too. And if I dont get the bid I want I can just go pay off the back taxes the same next day.
800K for 80 acres? ....this is not 1921 . A two acre building lot in the area is 2 to 300 K.
Paying 200K too much will mean nothing in 20 years. Means nothing today as I am betting this could easily sell for 1 million plus today. Build a house on the back 40, plant or lease the front 40. The topography and landscape are fantastic for a country estate. Hills with pond and forest at back. I have no interest in living in the area but tons of people would love to.
A city lot anywhere in the GTA is 1 million minimum for a knockdown.
I would love to have grabbed it for 300K but reality is that's not happening anymore. 10 years ago you could win just by filling the forms out correctly. Today they are provided. I used to get my listing from Ontario Gazette. Now they are published on the net.
You can thank Ontario Tax Sales and Tri-Target but if it wasn't them it would be someone else.
If you are thinking you will get something like this for 75 K you are dreaming. Go buy lottery tickets instead. Even 15 years ago it would have taken 200 plus to win this.
I spend 4K a year on Geowarehouse and I'm an amateur compared to others on here. Then of course there are locals. You can't actually expect something like this to slip past local investors and Realtors.