Information on these surplus lands is gathered from a large number of sources and its accuracy or completeness cannot be guaranteed.
- All users are responsible for confirming the accuracy of the information to their own satisfaction.
- Prices shown are deemed to be reasonable, but are subject to change without notice to reflect the City's opinion of fair market value at time of sale.
- The contents of these listings are subject to change as properties are sold or withdrawn from sale and other properties are added.
- Nothing contained in these listings is to be interpreted as an offer.
- Before filling out the Buyer's Application Form, you may wish to confirm the property's current status with us as it might be sold or under negotiation or details may have changed.
We need very little time to obtain approval for a sale. Sales of surplus real estate under standard terms and conditions are all subject to approval in the following manner:
- Sales up to $500,000 are approved by the Director of Property Sales, Sustainable Development.
- Sales from $500,000 to $1,000,000 are approved by the Manager of Corporate Properties, Sustainable Development.
- Sales from $1,000,000 to $3,000,000 are approved by the General Manager of Sustainable Development.
- Sales over $3,000,000 or sales with non-standard terms and conditions require Executive Committee and sometimes City Council approval. These sales generally require an additional three weeks or longer to obtain formal approvals.
When a prospective buyer is interested in purchasing property, we need specific information from that person before we can negotiate a sale agreement. This information can be provided by filling out and sending us a Buyer's Application Form, a written offer or a completed Land Sale Agreement form. The normal purchase process includes the following steps (with estimated times in brackets):
- We confirm the buyer's information has been received and begin our evaluation (2 days).
- If we wish to proceed with the sale, acceptable terms and conditions are negotiated between the buyer and the City (time may vary).
- We prepare the sale agreement and send it to the buyer (1-2 days).
- The buyer signs the agreement and returns it along with a deposit cheque (usually one week).
- We prepare and submit a brief report to senior management recommending that the sale be approved (1-4 days).
- If required, we send the sale recommendation to the City Manager's office to be scheduled for an Executive Committee meeting (three weeks).
- Once the sale is approved, the deposit cheque is deposited, the formal agreements are signed and sealed by the City and the transaction proceeds as per the terms and conditions of the formal sale agreement.