News (Media Awareness Project) - CN ON: Homehunters Saving Money On Pot Houses |
Title: | CN ON: Homehunters Saving Money On Pot Houses |
Published On: | 2006-10-20 |
Source: | Windsor Star (CN ON) |
Fetched On: | 2008-08-17 21:02:21 |
HOMEHUNTERS SAVING MONEY ON POT HOUSES
Big beneficiaries of the largest growhouse raid in Windsor history
may well be the people who snapped up the houses -- seized and sold
according to proceeds of crime legislation -- for bargain prices.
On average, they bought their houses for about $30,000 less than the
assessed values.
Following the June 2004 raid on 11 homes -- including seven suspected
growhouses -- five growhouses were ultimately "restrained," and then
sold. Upon conviction of the people owning or operating the
growhouses, the proceeds after mortgages, hydro bills and other debts
are paid, resulted in $113,000 -- an average of $22,600 per house --
going to the government.
That money goes into a federal seized property proceeds account, and
is dispersed to the involved jurisdictions, according to Pierre
Manoni, spokesman for Public Works and Government Services Canada.
He said the houses are inspected and cleaned and a real estate agent
is retained to sell them. The agent is required to advise all
prospective buyers the houses were growhouses, according to Manoni.
The new owners who were interviewed claimed they found no permanent
damage -- such as mould and water damage -- or musty odours. They
said they were aware of the homes' histories and had thorough home
inspections before taking possession.
At 908 Curry Ave., the federal government took control of the
property, sold it, and after debts were paid and the owner of the
growhouse, Sinh Kim Ho, was convicted, $15,000 was forfeited to the
government. Elias and Mary Hindi paid $55,000, according to land
registry records, for the 11/2-storey house. Its assessed value,
according to city hall tax records, is $97,000. On Thursday, the
Hindis couldn't be reached, but a contractor was working at the house
putting finishing touches on renovations that he understood were
intended to make it attractive to renters.
The residence at 3930 Acorn Cres., in a newer subdivision between
Provincial and Division roads, is a raised-ranch home with an
assessed value of $162,000. After it was seized, it was purchased for
$135,000 by Betty Jo Delben. The government got $26,368.
One block over, on Maple Leaf Crescent, a similar house was seized
and sold for $139,500, almost $30,000 less than the $169,000 assessed
value. The forfeit to the government amounted to $10,195.
"It was really a good deal," said the owner, who spoke on condition
her name not be used. Like other homeowners interviewed, they are
nervous about having their homes identified as former growhouses
because they don't want the values to drop.
The owner said she and her husband had a home inspection before
moving in. They've spent considerable time and money fixing it up and
finishing the basement.
"To me, personally, I mean, we wouldn't stay here if there were any
problems with the house."
The house that the government stands to make the most on, $55,000, is
on Lounsborough Street in the same general area as the Acorn and
Maple Leaf homes. The new owner paid $205,000 for a spacious house
valued at $236,000.
The land registry records for another former growhouse on Mercer
Street were incomplete. The amount forfeited to the government was $17,290.
Two suspected growhouses that were raided June 22 were not seized by
the government. One, on Conservation Drive behind Devonshire Mall,
was sold before the government could get it restrained. The other, on
Felix Avenue, was empty of marijuana plants when police raided it.
Big beneficiaries of the largest growhouse raid in Windsor history
may well be the people who snapped up the houses -- seized and sold
according to proceeds of crime legislation -- for bargain prices.
On average, they bought their houses for about $30,000 less than the
assessed values.
Following the June 2004 raid on 11 homes -- including seven suspected
growhouses -- five growhouses were ultimately "restrained," and then
sold. Upon conviction of the people owning or operating the
growhouses, the proceeds after mortgages, hydro bills and other debts
are paid, resulted in $113,000 -- an average of $22,600 per house --
going to the government.
That money goes into a federal seized property proceeds account, and
is dispersed to the involved jurisdictions, according to Pierre
Manoni, spokesman for Public Works and Government Services Canada.
He said the houses are inspected and cleaned and a real estate agent
is retained to sell them. The agent is required to advise all
prospective buyers the houses were growhouses, according to Manoni.
The new owners who were interviewed claimed they found no permanent
damage -- such as mould and water damage -- or musty odours. They
said they were aware of the homes' histories and had thorough home
inspections before taking possession.
At 908 Curry Ave., the federal government took control of the
property, sold it, and after debts were paid and the owner of the
growhouse, Sinh Kim Ho, was convicted, $15,000 was forfeited to the
government. Elias and Mary Hindi paid $55,000, according to land
registry records, for the 11/2-storey house. Its assessed value,
according to city hall tax records, is $97,000. On Thursday, the
Hindis couldn't be reached, but a contractor was working at the house
putting finishing touches on renovations that he understood were
intended to make it attractive to renters.
The residence at 3930 Acorn Cres., in a newer subdivision between
Provincial and Division roads, is a raised-ranch home with an
assessed value of $162,000. After it was seized, it was purchased for
$135,000 by Betty Jo Delben. The government got $26,368.
One block over, on Maple Leaf Crescent, a similar house was seized
and sold for $139,500, almost $30,000 less than the $169,000 assessed
value. The forfeit to the government amounted to $10,195.
"It was really a good deal," said the owner, who spoke on condition
her name not be used. Like other homeowners interviewed, they are
nervous about having their homes identified as former growhouses
because they don't want the values to drop.
The owner said she and her husband had a home inspection before
moving in. They've spent considerable time and money fixing it up and
finishing the basement.
"To me, personally, I mean, we wouldn't stay here if there were any
problems with the house."
The house that the government stands to make the most on, $55,000, is
on Lounsborough Street in the same general area as the Acorn and
Maple Leaf homes. The new owner paid $205,000 for a spacious house
valued at $236,000.
The land registry records for another former growhouse on Mercer
Street were incomplete. The amount forfeited to the government was $17,290.
Two suspected growhouses that were raided June 22 were not seized by
the government. One, on Conservation Drive behind Devonshire Mall,
was sold before the government could get it restrained. The other, on
Felix Avenue, was empty of marijuana plants when police raided it.
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