Niagara Falls sale

[seeker2]

Does anyone have any info. regarding the upcoming Niagara Falls sale??

[Pfm1011]

Been there, done that, The dawson will redeem as the main tenant is actually the husband or son of the owner .And if the dawson is broke ( have to be a gambling addict or crack head as he is a surgeon and 100k is not a lot) and cant redeem, Since the tenant is related to the owner, Im sure that if you did win, he would amazingly have a 20 year , 1 dollar a foot full gross lease where you essentially pay for everything including refitting his medical offices.

Potentially a severe dogs breakfast and a future litigation nightmare. ( as the lawyers rub their hands)


 The Montrose Rd. ES, is a dogs breakfast . It has been subject to OMB hearings, lawsuits, official plan amendments, special zoning provisions ( not for the good of the owner ) Regional  Flood plain, Signifigant wet lands,  Enviromental assessments, restrictive covenents, a "special policy" (No 37) in the Niagara official plan. The town will  never connect sewers,storm or water etc..Specifically "the city  will not consider  requests" ( Polite for F*ck off)  The property cannot be built on due to frontage which the town "under no circumstances" will allow to vary. Its all in writing. To build , you have to buy 3 additional parcels off the previous owners family who lost the land..Let me know how that works out as they lost the land plus untold hundreds of thousands in an OMB fight which they got slaughtered on.

And to add insult to Injury, when you win the land the 30 parcels ( who cant build) around are going to try to bust your chops when you try to remove the restrictive covenent as Im sure they want to recover some of their losses and will see it as a opportunity to do so.

It will cost a minimum of 150 to 200K in engineering just to build an outhouse.. need a hydrological study  and eviromental assessment for the outhouse..literally

This piece is the result of sneaky people trying to subdivide 17 years ago  using a loophole ( this and about 15 farms in the area) and when the town started to fight, Instead of simply accepting 30 lots instead of 40 and working with the town planners . The greedy people decided to show the city who is boss...Hense a family farm turned to Sh*t

It is actually a great example to everyone who wants to sneak one past a city ....The city will win and win big which is really the way it should be  ..This property will eventually end up in the city hands as a park or conservation area.

Im pretty good at legal stuff  and I look at that special provision 37 and it reads to me ..snowballs chance of getting a pernit in this century even if the mayor is your brother"

You can download the Niagara offical plan and look at the special policy 37...and thats just the beginning.. If you have ever worked with a planning dept you will realize that policy simply says..this land aint being built.




Garner rdHouse on 14 acres   is actually a junk yard...Environmental

2 acres on Lyons creek is land locked essentially, If you want to blackmail someone , there is a new house being built in front so you may bid on the land, then sell it to them...Of course if they bid and get beat by you, they will never buy it off you and you will have 2 acres of crap land  beside a rail
line.    If anyone does go back and look at it, drop a copy of the notice on the house out front, they might not know about the land and it would be a shame if they didnt bid on the land and double their lot for peanuts.


There was a few more but havent looked into them, anybody else check out Niagara

[Sasha]

Hi,

There are 2 other properties not mentioned, one on Sherk and one on Sodom, know anything about those?

Sasha

[Frank]

Thanks for the overview Pfm1011

I had assumed from the moment I saw the location map, and checked google earth for a view of it, that it was a problem site.   This is one of those (now banned) subdivisions by bequest.  The Province closed the loop-hole, and the City put provisions in place to make development prohibitive.  In this case what you would be buying is one big lot, which you couldn't even build on since it has inadequate road frontage, and is too close to the creek.   You'd probably be better off buying swampland in Florida.

[Sasha]

Pfm1011,

No one has yet come up with the money for the commercial property on a main st.  Anyone know if the plaza is in a good area, you high traffic, mid to high socioeconomic area, although even low socioeconomic areas at that price are a deal.  Are all the units rented, leased?  If the property is sold in a tax sale will the new owner have the right to draw up new leases, will the old leases still be valid?
Any crown liens on the property?

Thanks,

Sasha

[Pfm1011]

You have to do your diligence on this one,,No one is going to give you the answers., Have to do title and execution search..otherwise if there is..you are out your deposit which at a min bid is 25,k.  As per the redemption, Banks closed Monday, expect it Tuesday, I went Thur the same deal in Rideau on 120 acres..Guy paid last day before..10 years didn't pay and paid on last day..Old leases will be valid and since the old owner wont give you the leases.the tenants, including the old owner,  can create anything they want..good luck proving there are not real.. Hence my original post. Good area..Its outskirts of Niagara falls...what the hell is a good area out there??  low socioeconomic areas the whole city..,biggest business is the casino, no major factories,  Houses are worth 1/3 of Mississauga .. tax is the same..check out the tax on that building  305 appraised...12500 tax..worse then Hamilton. If this was Mississauga I could tell you to the penny the value..Niagara..haven't a clue

[Pfm1011]

Sasha as I predicted..Dawson store..Redeemed 2 hours before sale

[Sasha]

Pfm1011,

I'll call the town tomorrow to see what the other properties went for.  Did you attend the sale?

Sasha

[MISAN]

There were 15-20 people show for the opening of the bids it went as follows; #1 Sodum no bids, #2 Lions Creek rd. 1 bidder $8,500, #3 1 bidder $19,000, #4 Garner rd. 1 bidder not accepted bid was below advertised amount, #5 Montos rd. $187,760 and $160,000 high two of four bids, #6 Dawson st. Redeemed.

[Pfm1011]

No  I didnt attend , Nothing  really  interested me, I was positive the dawson would redeem, noone loses that much money on a building with no mortgage.

187 for the 100 acres..seems high but what do I know.. Hope the buyer has time ,,or is sleeping with the mayor.. .

I have never attended a tender opening..anything worth going for??