Cobourg tax sale

[RichD]

Hey all,

I know Cobourg has been mentioned before and dismissed by some, but I thought I'd mention it again anyway. There are a lot of very interesting properties being sold here and a lot if not most aren't land locked nor according to the town are they a"checkerboard" subdivision in other words if you buy 2 lots side by side they don't become one. They have a pretty detailed websight showing the lots and there zoning its  (WWW.cobourg.ca) then go to town services. I don't understand why these lots haven't been developed yet? I live in Cobourg so if you need any help finding them let me know.

[ErnestBidder]

  It used to be that any two adjacent lots registered in the same name would automatically merge, but people got around that by using variations of their name, such as "John Peter Smith" and "John P. Smith"; my understanding now is that the automatic merging of such lots no longer takes place. Is there some special rule pertaining to checkerboard lots? Frank said, earlier, " Good hunting to all, but you won't see me at this sale" - - - you don't think he was doing a psych job, do you? ;>))

[Rob]

Thanks RichD for bringing these properties up.  And thanks ErnestBidder for providing some background information on adjacent lots in the same name automatically merging .  I think these properties can be valuable but only at the right price with the right pieces.

[Frank]

OK, so my new motto is 'trust no-one, but me' -------- just kidding.

If you think I am doing a psych job on you (which I wouldnt't...but why would you trust me), then go ahead and waste your time, and tell me all about it when it's over. 

Adjacent properties can most certainly still merge...............please correct me if I am wrong.

Have fun in Cobourg.  And don't forget to bid on theone in Hamilton next year.  I don't think the ones in Welland sold last year either - same stuff, but in a swamp.

[Prospector]

I read through the town doc's on the link you sent.

In Paragraph B, item 3, It states that :

• an OP Ammendment is required. That is a process going up to the provincial planning level,
• then an Environmental Impact Study needs to be completed with the cooperation of the Ganaraska Regional Conservation Authority. YIKES!
  
• The Noise (From railway lines?) and land use use analysis are a PITA,
• and then the Traffic Impact Study.

After reading through that I thought, well maybe with a lot of work this could work out OK. I mean I know a couple people in these municipalities... but then I read on and came to a sudden halt in paragraph E where it says...

"The Subject lands are what is commonly referred to as a "Checkerboard subdivision"

Make your own choices, but it sure sounds like Frank has this one pegged.

[Rob]

I definitely wouldn't bid on these properties.   But I still think with the right owner at the right place they could have some value to someone.  Just not myself.

[Frank]

Problem with these properties is that they have let the taxes on each lot escalate to the point where in order to buy them all you would have to shell out big time.  Professional land developers would pay farm rates only for land that they had to complete all of those studies on, and in this case there is no way of guaranteeing that you would get them all.  No one in there right mind will buy one or two lots and then try to get together with all of the other owners and hope for co-operation in getting all the planning details out of the way.  Bottom line is what is a lot worth in that area, and compare that with all of the costs - and you are still uncertain that you can even build on it when you are done. 

Good luck at the sale for anyone that wants to venture in.

[RichD]

My thoughts were more along the lines of buying one as a longer term investment. I know Cobourg well, and that eventually will be prime property. Cobourg is growing in leaps and bounds with million $ condos going up by the harbour, new Hospital and Wall mart put in a store a while back and their breaking ground now for a Home Depo. I very well could be wrong? It does seem like the waters are pretty muddy at best. Good luck all.

[dave65432]

i have it on good authority that there is a lot of gold buried in many of these properties

i may have to swing by cobourg and check into things

[Frank]

i have it on good authority that there is a lot of gold buried in many of these properties

i may have to swing by cobourg and check into things

I never heard of the Cobourg gold rush.  Ever heard the story of the billions which the state of California owes the Gagnon family, sad but true.

[dave65432]

i will look into this gagnon business, to be sure!

[Jenny]

If there is really gold buried under the propertiy, does the owner have the right to mine it? How to understand some lands are "Surface use only".
Thanks
Jenny

i have it on good authority that there is a lot of gold buried in many of these properties

i may have to swing by cobourg and check into things