PROPERTY FOR SALE
507 Briar Avenue NW, Cranbrook
The City of Cranbrook is inviting requests for proposals to purchase the City owned land at 507 Briar Avenue NW, Cranbrook (Parcel A, Lot 5, District Lot 29 & 26 (See 158044I), Kootenay District Plan NEP1355 PID: 015-799-042).
The property is zoned Single Family Extended Residential Zone R-1 and the lot size is approximately .114 acres. The house was built in the 1920's, single storey with three bedrooms and 1 bathroom. The main floor is approximately 1006 square feet.
Interested purchasers are required to submit their offer in a sealed envelope marked "BID NO. CRA2021-B-002 507 Briar Avenue NW" no later than 4:30 pm Mountain Standard Time, Friday, May 28, 2021. The offer must clearly identify the name and contact information (phone, email and mailing address) of all principals associated with the disposal. Email or fax submission will not be accepted. Sealed offers must be delivered to:
ATTENTION: Financial Analyst
Cranbrook City Hall
40-11th Avenue South,
Cranbrook BC, V1C 2M8
The purchase and sale of the property is subject to the following terms and conditions:
1. The building must be demolished, and the property cleaned up within 3 months of the closing date.
2. Sale of the property is subject to the purchaser entering an Option to Purchase with the City to be registered against the title of the property to ensure the building is demolished and the property cleaned up in accordance with the requirements of the proposal. If the building is not demolished and the property cleaned up, the City has the option to purchase the land at the same price it was sold for.
3. This property will be sold on an "as is, where is" basis and prospective purchasers must satisfy themselves as to the condition of the property.
3. The highest bid may not necessarily be accepted.
5. Prospective purchasers must satisfy themselves as to whether any of the charges registered against title to the property will have any effect on the proposed use and/or development of the property;
6. The City reserves the right to reject any or all offers submitted which do not meet or exceed the specified criteria.
7. Offers will be considered by Council at a meeting to be held after the closing date and the successful bidder will be advised in writing; and
9. The successful bidder must enter into a purchase and sale agreement in a form acceptable to the City within 30 days of the Council decision. The purchase and sale agreement will require among other things, that the purchaser:
a) Upon execution of the agreement, deliver a deposit to the City in the amount of ten (10%) of the sale price of the property;
b) Pay all registration and other costs associated with the transfer of the property; and
c) Pay all applicable taxes including but not limited to the property purchase tax, GST and an amount equivalent to municipal taxes from the purchase date.
Questions regarding submission requirements, timing or similar contractual matters should be directed to: Susan King, Financial Analyst.
Questions regarding the property may be directed to:Paul Heywood, Manager of Building and Bylaw Services.
