Beachfront Property for Sale for $5,323.40???

Have you ever heard that George Strait song “Ocean Front Property?”

The chorus goes like this:

“I got some ocean front property in Arizona.
From my front porch you can see the sea.
I got some ocean front property in Arizona.
If you’ll buy that, I’ll throw the golden gate in free.”

You’ve heard that old adage “If it sounds too good to be true, it probably is.” While that is generally true, there are always exceptions to the rule.  

Screen Shot 2015-03-03 at 5.28.36 AMRecently Norfolk County announced the sale of two beach front properties in Long Point being offered for sale for the amount of outstanding taxes owing. 303 Hasting’s Drive, Long Point is offered for sale by public tender for a minimum of $5,323.40. Another vacant waterfront property along Hasting’s Drive is also being offered for sale for taxes owing in the amount of $7,172.59.

After three years of unpaid property taxes, a property may be entered into the tax sale process. A tax sale is the sale of one or more properties by a municipality, to recover unpaid property taxes on those properties. Tax sales are conducted either by public auction or by public tender. 

Tax sale properties may sell for less than the market value of the property. This is because a municipality only needs to obtain the amount of taxes owing (including any accumulated interest and penalties), plus any costs involved in conducting the tax sale. The highest qualified tender is declared the successful purchaser.

After a tax deed has been registered, the former owner cannot redeem the property. However, before a tax deed is registered, the owner might be able to redeem the property by paying the cancellation price, thereby stopping the sale.

In an interview with The Simcoe Reformer, Norfolk Mayor Charlie Luke “speculated that the high arrears on the vacant lots in Long Point may stem from the possibility that the land was abandoned 30 years ago after a devastating storm erased dozens of cottages from the shoreline.  Soon after, Haldimand-Norfolk declared a hazard land designation on Hasting’s Drive and imposed a moratorium on new development. Tax Sale

Vacant properties along Hasting’s Drive have been used by their owners as a “day at the beach” or as a boat launch to Lake Erie. More recently some Hasting’s Drive property owners are trying to make use of their properties by bringing in tents, trailers or motor homes. Norfolk County staff are not ordering the removal of recreational vehicles and trailers because they are not considered to be “structures.” Norfolk’s Manager of Development and Cultural Services, Chris Baird, notes “They still have wheels and license plates and can be moved out at any time.” 

You can read everything you need to know about tax sales by clicking here or by asking us anything below.

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6 thoughts on “Beachfront Property for Sale for $5,323.40???

  1. Hi Ray – What do you think of either of these properties? As you likely know we are in Florida until the first part of April, just saw this and thought I should check, as we would still like to be able to go fishing off Hastings. Look forward to your comments.

    Mary

  2. Hi,
    I would like get more informations pertaining this lot size,what are the restrictions from the township regarding this property and what is the yearly property tax amount ,
    Hope to hear from you soon!
    Regards,
    Pat.

  3. I know these properties on Hastings are not available,if any come available let me know,my friend has a couple lots would be interested,Kevin

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