A 7821023 167

All properties offered for sale by Public Auction are viewed externally and an

estimate of the market value of each property has been made based on that review.

This estimate of market value is used as

the reserve bid and it represents the minimum

bid that will be accepted at Auction. All sales will be subject to a reserve bid.

Reserve bid values will be available 30 days prior to Auction from the City Revenue

& Assessment Services department. Purchaser will acquire the property free of

encumbrances, subject to those exceptions listed in sections 423 and 436.14 of the

Municipal Government Act.

Deer makes no representation and gives no warranty as to the adequacy of services,

soil conditions, land use districting, building and development conditions, absence or

presence of environmental contamination, or the developability of the subject

property for any intended use by the Purchaser. If the Land is occupied by a tenant in

possession under a lease or rental agreement, the obligation and expense of obtaining

Only cash sales will be accepted or sales requiring loan funding which does not

involve encumbering of the purchased lands and provides for closing funds upon the

required closing date in the same manner as a cash sale. Vendor financing or

financing using third party mortgages or encumbrances upon the purchased lands, or

other similar financing arrangements, cannot be accommodated.

Purchase price payable by non-refundable deposit equal to 10% of purchase price due

on Auction Date, with the balance of the purchase price due on closing. Payments

by cash, bank draft or certified cheque only. Closing date for all sales will be 60 days

after Auction Date, unless otherwise agreed to by the City. Successful bidder agrees

and can be obtained 30 days prior to Auction Date from Revenue & Assessment

Services. Purchase price includes all

taxes, rates, fees and charges accrued to

Closing Date. Purchaser responsible for paymen

t of all taxes, rates, charges, and fees

for the property, after Closing Date.

The City of Red Deer may become the owner of any property not sold at the Auction.

In the event that payment of the arrears of taxes and costs is received by The City

prior to the Public Auction, the property in

question will not be offered for sale. There

is no right to pay tax arrears after the property is declared sold.

Dated at Red Deer, Alberta, June 28, 2013.

Controller-Property Taxation

DISCLAIMER

We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal, accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.

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