If you buy land from me and pay cash, or arrange your own financing, a Trustee will prepare a Transfer. Once the funds are recieved, the Transfer will be registered at Land Titles Office, and an official Certificate of Title will be issued to the new owner. I will pay all closing cost so all of your downpayment is applied towards the land.
If you choose owner financing the terms are:
I hold the Title, in Trust, until paid in full.
I will finance for upto five years. Lump sum is due at the end of 5 years; if you make just minimum payments, there will be about 60%-75% of purhase price due at loan expiry, so it is wise to make larger, and extra payments when possible.
Downpayments and payments now can be made with a major credit card, or a PayPal. Each property page has a BUY NOW botton, by clicking on it, one can proceed to making a deposit on a particular property.
Initial downpayment on house is US$1500. To show sufficient buyer interest I require this amount.
Initial downpayment on land is 5% of purchase price.
I can negotiate a lower downpayment if I am convinced that you are a serious buyer, and you have exceptional circumstances.
Monthly payments are a minimum of US$250, or 1% of the purchase price, whichever is greater.
Six-month interest-free period after purchase.
Interest rate thereafter: 8% on properties over US$40,000; 8,95% on properties valued US$15,000 to US$40,000; 9,75% on properties valued under US$15,000. Combined property value applicable for the purpose of interest.
No penalty for larger payments or prepayment. 7,5% credit to balance for amounts exceeding regular payments.
Multiple/repeat purchase discount of 7.5% within one year of first purchase, unless the house with the land has already been discounted.
US$500 travel credit to out-of-province buyers within one year of purchase, applied toward balance.
If you dont like the property you bought sight-unseen, I will try to exchange, not to refund, for equal or greater value property within one year of purchase. I will apply all moneys thus far paid to the new property of your choice. There will be $500 charge for this exchange service.
In Canada there are no Escrow agents, all payments are sent directly to me and I keep track of them. When the last payment is recieved I will prepare and send for registration a Transfer in your name at Land Titles Office and you will recieve a Certificate of Title in your name.
In Canada there is no Title Insurance; all land is guaranteed by the government; cases of Native Land Claims in Saskatchewan are on Crown Land and private land is not affected. All land is clearly boundary demarkated. There are no survey defects; and all encumbrances and liens, if any, are clearly registered on the Deed. Title search, you can do on your own, by contacting INFORMATION SERVICES CORPORATION OF SASKATCHEWAN.
Buyer is responsible for property taxes as of possession date.
Buyer shall keep the property in good condition.
Buyer shall not remove any materials or trees from the property unless for the improvement of the property.
Buyer is responsible to farm the land(or rent it out), unless it is bush or a pasture, to keep it in good condition and to keep weeds down, as well it is his right to farm the land. Neighbor farmers are usually willing to rent land for crop growing. Otherwice you poccess and enjoy the land, as long as you dont stomp all over his crops.
I will consider other financing options if need is demonstrated by the buyer, or to suit the buyer.
