Dangers of the game Elizabethtown Kitley / Georgian Bluffs

[Pfm1011]

There was two large pieces of land that sold in Elizabethtown

Mckay rd was 99 acres near a swamp , a railway with an gutted house. Maybe 250K to 300 value

The winner was on zoom and excited at a 189K.  Problem was a crown lien for income tax from 2008 for 232K  .Add interest and there is 600 K surprise.  The winner was on the zoom and said he had no clue...Ouch . Said he had lawyer do search and said not to worry...oops.. not sure if he walked or not. Have to check geo in a few months.

I always use OTA even though I have Geowarehouse.  Just remember to get a search thru Tri-target or OTA. His lawyer probably charged him more and screwed it up.  Good luck with the Lawpro claim.

There was also 74 acre former quarry,  Good piece as there is at least 5 lots and extra 60 acres. Winner paid 350 and did not know about environmental issues looking at 100 to 150 cleanup HOWEVER even after cleanup there is nice profit to be had .

In Georgian today 99 acres went for 470 I think , I didnt catch it all.
House burned down and 30% EP , Nice piece with a pond...and city sewage lagoons  just north. Not to worry as prevailing winds come from the west and apparently lagoons dont stink..Didn't stop me from bidding..

That said as the house was burned down and had a leaky oil tank there is some extra costs  This is  also conservation authority so clean up must be squeaky
 Just something to watch for as Im sure that could be 50 K

Side note. Elizabethtown did a zoom and was professional as hell. Inspected envelopes , tossed a pile for wrong name  and clearly read out quotes and deposits.  Well done

Cool part of the zoom was all the chat going on the whole time

[Jayz]

Didn't follow the 99 ac in Elizabethtown. Checked OTS results after. I believe there was one time OTS showed it was sold for the minimum (so was the 72 ac. glitch?) ... gee, Dave2 must have been on vacation. 
So I tendered a little over the minimum for the 96 ac in Georgian.  That was obviously opportunistic.  There were many tenders with the highest over 600k. Many in the 500k, 400k, 300k ranges. Not sure if it's worth it. There was a 100 ac +- a little further northwest in BP recently listed and sold for 500k +-.

[dm1974]

I was thinking of bidding on that gutted historical house on 6th concession.  I got sick leading up to it and decided not to put the effort in.  I would have had second place bid.  For the big diference, I am almost sure the winner was the neighbor right beside it not wanting new people in his oversized shed


As an aside, anybody got the results of Head, Clara and Maria?  Wonder what the motel went for...

[Jayz]

High or low, it looks like the 74ac in Elizabethtown Kitley and the 96ac in Georgian Bluffs got canceled after their respective opening. 

[Dave2]

Didn't follow the 99 ac in Elizabethtown. Checked OTS results after. I believe there was one time OTS showed it was sold for the minimum (so was the 72 ac. glitch?) ... gee, Dave2 must have been on vacation. 

Jayz:

Dave2 is not smart and rich like you and PFM.   He had the (bad) luck to choose io compete on  a close by bid where they all redeemed  .   Also
my survival on this planet would be questionable after I had to advise my significant other that I had lost a 20% deposit at these prices being bid.

To add insult to injury I was trying to sell some not great quality land at the same time, verbally negotiated the price and found the paperwork price was 1/3
less then what we verbally agreed and the signing deadline allowed me well less then an hour hour to complete the transaction.  Needless to say I did not sign it back.

One legal caution  for every one, remember a verbal sale agreement on land is not enforceable.   

[Pfm1011]

Didn't follow the 99 ac in Elizabethtown. Checked OTS results after. I believe there was one time OTS showed it was sold for the minimum (so was the 72 ac. glitch?) ... gee, Dave2 must have been on vacation.  
So I tendered a little over the minimum for the 96 ac in Georgian.   That was obviously opportunistic.  There were many tenders with the highest over 600k. Many in the 500k, 400k, 300k ranges. Not sure if it's worth it. There was a 100 ac +- a little further northwest in BP recently listed and sold for 500k +-.

I was just under 300 on that piece. I  didn't  think worth 500 or 600 but  i'm not from the area a local who wants to build a house there would be worth more