Single-Unit Open Market Sale

1. Deposit/Possession:
i) Deposit amount of 13% is due within five (5) business days of offer acceptance.
ii) 0% interest for the first 24 months of the lots being under an Agreement for Sale.
iii) Full payment of the lot is due in 24 months.
iv) After 24 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.

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-LAND.

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.