How to Purchase a Lot

HOLD A LOT – Between December 1 to March 31, developed residential lots can be “held” with a non-refundable deposit of $500. On or before April 1, the Purchaser must provide the remainder of the 10% non-refundable down-payment and purchase the lot as indicated below.

Policy on the Holding of Developed Lots for Sale

The holding of a lot is only allowed between December 1st to March 31st inclusive.

A lot can be held upon the receipt of a $500 holding deposit.
Purchase of the lot must take place on or before April 1st by providing a non-refundable down-payment of 10% of the list price plus an amount equal to bare land taxes for the current year (prorated) and entering into an Option to Purchase Agreement.
Should a sale not proceed following the April 1st deadline, the deposit will be retained by the City of Prince Albert and the individual or company placing the hold will have no further rights to the property.
The holding of any developed lot will not be allowed between the months of April 1st to November 30th.

HOW TO PURCHASE A LOT - Lots may be purchased by making a non-refundable down-payment of 10% of the purchase price and an amount in lieu of the current year's taxes and by entering into an Option to Purchase and Development Agreement with the City covering all terms of the sale. The balance of the purchase price plus applicable Government taxes is due at the earlier of the date of transfer, or 6 months from the date of purchase. Click for further information. See the various related policies under the Economic Development and Planning section of the Policies page.

REGISTRATION OF A MORTGAGE - Title to the land purchased will remain in the name of the City until the land is paid for in full. If registration of a mortgage is necessary, a transfer of title may be forwarded to a solicitor or lending institution on the condition that the balance owing be paid to the City within 30 days. A transfer will not be issued until a satisfactory Real Property Report has been submitted to the Economic Development and Planning Department and applicable Government taxes paid.

SERVICES - Services included in the price of most residential lots are: sewer and water mains, including connections to the property line, concrete curbs, grading and gravelling of lanes, if any, asphalt street paving, street lighting, boulevard landscaping, storm sewer benefit, and park development. The City, however, reserves the right to determine the completion date for the installation of these services within a reasonable period of time after the lot has been sold if servicing was not completed at the time of sale. There are lots where not all of these services are included in the price, therefore, the purchaser should confirm with the Property Sales Office which services are included.

TOPSOIL - Effective 2008, the City will no longer supply topsoil to lots purchased from the City. The Purchaser will be responsible for purchasing their own supply of topsoil from local contractors.

SUBSURFACE SOIL - Subsurface soil conditions of some lots may not be suitable for certain home designs. Soil testing may be done at any time and is the responsibility of the purchaser.

LOT COVERAGE - A maximum of 45% of the lot may be covered with buildings. This includes both principal and accessory buildings, but the accessory buildings shall not exceed 10% of the lot area.

BUILDING COMMITMENT - The Purchaser is required to commence construction wtih 12 months of the date of purchase and must receive a footing and backfill inspection and submit a Real Property Report within 75 days of the date on which the permit is taken out.

Visit the Home Renovating and Building pages for related information.