Open Market Sale

Open Market Sale

Saskatoon Land is accepting offers on a variety of single-family lots in Evergreen, Parkridge, Westview and Montgomery Place neighbourhoods. 

Interested parties are required to submit a completed Purchaser Application Form which indicates the desired lot(s) and offer price for each lot. The submission of offers is non-binding and in no way obligates the applicant to purchase the property in question and is not in any way binding upon Saskatoon Land. It is for information purposes only. Saskatoon Land will review the form and contact interested parties to confirm whether or not Saskatoon Land will consider the application for further negotiation. Saskatoon Land reserves the right to negotiate with only those parties it determines, at its sole discretion. Saskatoon Land also reserves the right to amend or abandon any property listing without accepting any Purchaser Application Form. Once Saskatoon Land has entered into negotiations with interested parties, offer acceptance will be subject to compliance with the terms and conditions.

Open Market Sale Process

  1. Review - Interested parties should review the sales package and familiarize themselves with the relevant terms and conditions.
  2. Submission - Interested parties must complete the Purchaser Application Form and submit to Saskatoon Land.
    Non-binding offers should be marked as "Open Market Sale - Single-Family Lots" and submitted to:
    Saskatoon Land
    Attn: Sales
    201 3rd Avenue North
    Saskatoon, SK  S7K 2H7

     

  3. Negotiation/Offer Acceptance - Saskatoon Land will review the form and contact interested parties to confirm whether or not Saskatoon Land will consider the application for further negotiation. Once Saskatoon Land has entered into negotiations with interested parties, offer acceptance will be subject to compliance with the terms and conditions.
  4. Deposit - Deposit amount of 13% is due within five (5) business days of offer acceptance.
  5. Payment - Full payment of the lot is due in twelve (12) months. After twelve (12) months, a further payment of 5% on the purchase price is required to extend an additional four (4) months at an interest rate of 5%.
Terms and Conditions

1. Deposit/Possession:

i) Deposit amount of 13% is due within five (5) business days of offer acceptance.
ii) 0% interest for the first twelve (12) months of the lots being under an Agreement for Sale.
iii) Full payment of the lot is due in twelve (12) months.
iv) After twelve (12) months, a further payment of 5% on the purchase price is required to extend an additional four (4) months at 5% interest.
v) The purchaser shall have the right of possession upon the effective date of the Agreement for Sale.

2. Conditions Precedent:

i) Approval of the sale by the Chief Financial Officer, City of Saskatoon.

3. Special Terms and Conditions:

i) The property is sold “as is” and the purchaser shall assume all responsibility and liability including any environmental matters existing as of the closing date.
ii) Development on these lots will be reviewed for consistency with Saskatoon Land’s architectural and development controls.
iii) Upon entrance into the Agreement for Sale, lot purchases will be considered final sales. Return of any of the lots will not be permitted.
iv) Eligible Contractors must be in good standing on Saskatoon Land’s Eligible Contractor List. v) Individual Purchasers must be in compliance with City of Saskatoon Council Policy Number C09-006, stating individuals are entitled to purchase only one City-owned lot every three years.
vi) The purchaser covenants and agrees to construct a dwelling on each lot, with the dwellings being completed within three years of the effective date of the Agreement for Sale as evidenced by a substantial completion of the dwelling unit.
vii) The purchaser further agrees to grant the City of Saskatoon, Saskatchewan Telecommunications, Saskatchewan Power Corporation, SaskEnergy Incorporated, and any utility agency any easements, which may be required by any or all of the said agencies at no cost.

FAQ

Are lot purchases from this Open Market Sale eligible for Saskatoon Land’s Incentive Program, including flexible payment terms and landscaping and driveway rebate programs?
You bet, all lot purchases are eligible for Saskatoon Land’s flexible payment terms and landscaping and driveway rebate programs subject to the applicable terms and conditions.

What happens if multiple offers are submitted by different parties for the same lot? 
In the event multiple offers are submitted for the same lot, Saskatoon Land will enter into negotiations with the party having the highest offer in compliance with applicable terms and conditions, provided that said is offer is deemed to be acceptable market value.

Can an individual submit an offer?
Yes, Saskatoon Land will accept offers from individuals who qualify under City Policy.

Are there any applicable development controls or architectural requirements that must be followed for home builds on these lots?
Home plans for all lots being sold through this open market sale will be reviewed by Saskatoon Land for compliance with Saskatoon Land’s development controls. For specific information on development controls, please contact Saskatoon Land at 306-975-3278.

What happens if I submit an offer on a lot?
Saskatoon Land will review all offers once the closing date has passed. Following this, Saskatoon Land will contact interested parties for further negotiations. Offer acceptance will be subject to terms and conditions.

Will a lot purchase from this open market sale impact my future lot allocations?
Any lot purchased by a builder on Saskatoon Land’s Eligible Contractor’s List will count towards their purchase history.

Will Saskatoon Land still take an offer after the closing date?
Yes, Saskatoon Land will accept offers after the closing date on unsold inventory.

Incentive Program

Lots purchased through this open market sale will be eligible for Saskatoon Land’s Incentive Program which includes competitive payment terms on lot sales and cash back rebates for the completion of front yard landscaping and front driveway surfacing within prescribed time frames.