AUCTION EVENT 5 th ANNUAL 3 QUARTERS RM of Douglas 436 Munawar Sabir 430 titled acres 360 cultivated acres 3 quarters of quality cultivated farmland ID: 385722
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Slide1
LAND
AUCTIONEVENT
5th ANNUAL
3
QUARTERS – RM of Douglas #436 Munawar Sabir
+/- 430 titled acres/+/- 360 cultivated acres3 quarters of quality, cultivated farmland North of Richard, SK and about ½ hour east of The BattlefordsSlide2
P
urchase Information Letter
Dear Prospective
Purchaser:T
hank you for you
r interest in the upcomin
g re
al
e
state auction.We have prepared information included in this document on behalf of the seller, to assist you in performing your own due diligence of the property or properties.All information contained within this document is believed to be accurate and correct.However, neither the seller, its affiliates, agents, nor KRAMER AUCTION - REAL ESTATE DIVISION INC. or its representatives make any warranties or guarantees, either express or implied, regarding the accuracy or completeness of any information contained herein.Consequently, it is up to you to verify this, any, and all information to your own satisfaction prior to any sale: Bidders must conduct and rely solely upon their own investigation and inspection of the property or properties.In addition to thoroughly reviewing all information available we recommend that you seek legal and professional advice prior to bidding at the auction.Also, please carefully review the Terms and Conditions of Sale included in this packageIf you require additional information, please contact us at KRAMER AUCTION - REAL ESTATE DIVISION INC.We look forward to seeing you at the auction event. Sincerely,
ED TRUELOVE, BROKERKRAMER AUCTION - REAL ESTATE DIVISION INC
RM of Douglas #436
Munawar
Sabir
Pt SE 11-45-13, SW 6-45-12
SE 26-45-13Slide3
I
nformation MemoMap & Land
InformationRM
MapArea
MapParcel M
apsLand Parcel Inform
atio
n
(
SAMA Details Report, Plot Plan, Photos)Terms and ConditionsThe above information is from sources believed to be reliable but should not be relied upon without verification. Kramer Auctions – Real Estate Div Inc assumes no responsibility for its accuracySlide4
T
he above information is fro
m sources believe
d to be reliab
le but should not b
e relied upon without verific
ation.
K
r
amer Auctions – Real Estate Div Inc assumes no responsibility for its accuracySlide5
T
he above information is fro
m sources believe
d to be reliab
le but should not b
e relied upon without verific
ation.
K
r
amer Auctions – Real Estate Div Inc assumes no responsibility for its accuracySlide6
T
h
e
abo
ve
i
nfo
r
mation is from sources believed to be reliable but should not be relied upon without verification. Kramer Auctions – Real Estate Div Inc assumes no responsibility for its accuracySite MapSlide7
T
h
e above informat
ion is from
sources believed
to be reliable but should
not b
e
r
elied upon without verification. Kramer Auctions – Real Estate Div Inc assumes no responsibility for its accuracyRM of Douglas #436Munawar SabirParcel 1 – Pt SE 11-45-13+/- 110 titles acres+/- 95 cult acres15 wasteAssessment 71,700Slide8
T
he above information is fro
m sources believe
d to be reliab
le but should not b
e relied upon without verific
ation.
K
r
amer Auctions – Real Estate Div Inc assumes no responsibility for its accuracySlide9
T
h
e above informat
ion is from
sources believed
to be reliable but should
not b
e
r
elied upon without verification. Kramer Auctions – Real Estate Div Inc assumes no responsibility for its accuracySlide10
T
he above information is fro
m sources believe
d to be reliab
le but should not b
e relied upon without verific
ation.
K
r
amer Auctions – Real Estate Div Inc assumes no responsibility for its accuracyRM of Douglas #436Munawar SabirParcel 2 – SW 6-45-12+/- 160 titled acres+/- 125 cult acres35 wasteAssessment 86,900Slide11
T
he above information is fro
m sources believe
d to be reliab
le but should not b
e relied upon without verific
ation.
K
r
amer Auctions – Real Estate Div Inc assumes no responsibility for its accuracySlide12
T
h
e
above informati
on is from sour
ces believed to be reliab
le but
s
hou
ld not be relied upon without verification. Kramer Auctions – Real Estate Div Inc assumes no responsibility for its accuracySlide13
T
h
e above inform
ation is fro
m sources believ
ed to be reliable but shoul
d not
b
e
relied upon without verification. Kramer Auctions – Real Estate Div Inc assumes no responsibility for its accuracySlide14
T
he above information is fro
m sources believe
d to be reliab
le but should not b
e relied upon without verific
ation.
K
r
amer Auctions – Real Estate Div Inc assumes no responsibility for its accuracyRM of Douglas # 436Munawar SabirParcel 3 – SE 26-45-13+/- 160 titled acres+/- 140 cult acres20 wasteAssessment 88,600Slide15
T
he above information is fro
m sources believe
d to be reliab
le but should not b
e relied upon without verific
ation.
K
r
amer Auctions – Real Estate Div Inc assumes no responsibility for its accuracySlide16
T
he above information is fro
m sources believe
d to be reliab
le but should not b
e relied upon without verific
ation.
K
r
amer Auctions – Real Estate Div Inc assumes no responsibility for its accuracySlide17
T
he above information is fro
m sources believe
d to be reliab
le but should not b
e relied upon without verific
ation.
K
r
amer Auctions – Real Estate Div Inc assumes no responsibility for its accuracySlide18
T
he above information is fro
m sources believe
d to be reliab
le but should not b
e relied upon without verific
ation.
K
r
amer Auctions – Real Estate Div Inc assumes no responsibility for its accuracySlide19
T
he above information is fro
m sources believe
d to be reliab
le but should not b
e relied upon without verific
ation.
K
r
amer Auctions – Real Estate Div Inc assumes no responsibility for its accuracySlide20Slide21
T
he above information is fro
m sources believe
d to be reliab
le but should not be
relied upon without verifi
cation.
K
r
a
mer Auctions – Real Estate Div Inc assumes no responsibility for its accuracy.SAMPLE CONTRACT OF PURCHASE AND SALEThis document is similar to the contract that will be used in the purchase of the property by the successful bidder.Please read over carefully and ask us to explain anything that you are uncertain about or do not understandSlide22Slide23
A
GREEMENT OF PURCHASE AND
SALETHIS
AGREEMENT M
ADE IN DUPLICA
TE this day of , 20
BETW
EE
N
:
SELLER(s): Address:Phone: Fax:AND:BUYER(s): Address:Phone: Fax:1.Property: 2.Bid Price:$Canadian Dollars), payable as follows:(a)A deposit of $ payable to theAuctioneer, immediately following the sale, to be held in trust by the Auctioneer pursuant to the terms of this Agreement. The deposit shall be non-refundable except as provided in paragraph 9 of this agreement.(b)Payment of the sum of $ The balance of the purchase price less the deposit shall be payable tothe Seller or Seller's lawyer in trust no less than 5 days before the Closing Date.3.Sale Date: DD/MM/YYYYSAMPLEAgent / Auctioneer Initials: _FOR OFFICE USE ONLY:RECEIVED AND ACKNOW LEDGED BY / / _BUYER’S INITIALS DATETIMERE: (PROPERTY DESCRIPTION) _ _AGREEMENT OF PURCHASE & SALE, Page 1Slide24
4.
Agent / Auctioneer Initials
: _FOR OFFICE U
SE ONLY:REC
EIVED AND ACKNOW L
EDGED BY / / _BUYE
R’S
I
N
I
TIALS DATETIMERE: (PROPERTY DESCRIPTION) _ _AGREEMENT OF PURCHASE & SALE, Page 2Closing Date: The Closing Date shall be the 30th day following the day of the auction sale, as specified in paragraph 3. The Buyer represents that he has sufficient funds available to close this sale on the Closing Date. This Agreement is not subject to financing.5.The Buyer agrees to pay to the Seller interest at the Bank of Canada Overnight Rate Target at the Closing Date plus 4% per annum, on any portion of the Purchase Price, less mortgages or other encumbrances assumed, not received by the Seller, his/her solicitor or his/her Brokerage as at the Closing Date, the interest to be calculated from the Closing Date, until monies are received by the Seller or his/her solicitor. The Seller shall have a lien and charge against the property for the unpaid portion of the Purchase Price (with interest as aforementioned).6Closing Costs: Each party shall be responsible for their own legal fees. It shall be the responsibility of each party t
o retain the services of lawyers and any other required profes
sio
nals well
in
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ac
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8
.
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eliver all necessary title transfer documentation in registerable form to the Buyer no later than noon of the Closing Date in order that the title can register in the name of the Buyer free and clear of all encumbrances except rights of way in favour of utilities and public authorities, registered easements and the following:
9.
Breach of Contract by the Seller: If the Seller defaults in the delivery of clear title as specified herein, the Buyer may terminate this Agreement and shall be entitled to a return of the deposit or, seek specific performance of this Agreement.
Risk: In the event that there are buildings on the property, the same shall be at the risk of the Seller until the Closing Date. In the event that this Agreement pertains to residential property, any substantial loss or damage to the property that substantially alters its condition from the time of sale, this shall entitle the Buyer to terminate this contract and demand the return of the deposit if such damage is not remedied.Taxes: Taxes shall be adjusted as of the Closing Date.Residency: In the event that the Seller is a non-resident of Canada, the Seller acknowledges that he shall comply with the Income Tax Act of Canada upon completion of the sale.Obligations of the Buyer: The Buyer acknowledges that there are no contingencies closing this transaction other than clear title as specified herein and that failure by the Buyer to pay the balance of the purchase price and close on or before the Closing Date shall result in a forfeiture to the Seller of the deposit paid.Property Disclosure Report: The Buyer acknowledges receipt of a Property Disclosure Statement received prior to the date of the sale and that the Buyer has used his own due
SAMPLESlide25
(
Firm Name) (Name o
f Lawyer) (City
/Town)(Te
lephone/Contac
t info)Seller's
So
l
i
c
itors: diligence to inspect the property and that the Buyer will not have a remedy for economic loss resulting from negligent errors, inaccuracies or omissions in the Disclosure Report against the Seller and specifically shall have no claim for any such loss against the Auctioneer.Inspection by Buyer: The Buyer acknowledges that he has inspected the property to his satisfaction, including its condition for his purposes, compliance with all municipal bylaws and provincial legislation. The Buyer acknowledges that the Seller makes no warranties whatsoever about the property and disclaims any warranties of fitness for any particular purpose including the location of boundaries or environmental conditions.Fixtures and Improvements: All fixtures and improvements attached to the land are included in the sale price. The parties acknowledge that there are no warranties, representations or collateral agreements made by either party or the Auctioneer relating to any additional property and tha
t this is the entire Agreement between them, except for the
foll
owing
i
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s
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commencing on the Closing Date, for the entire Closing Date.Merger: The parties agree that any outstanding agreement, representation or warranty contained in this Agreement shall not merge with or survive the transfer of title to the property and closing of this sale, and shall be enforceable by the Buyer after such tra
nsfer.
Time is of the essence of this Agreement.Binding Agreement: The parties acknowledge that this Agreement constitutes a binding agreement between them and that all obligations included herein shall be binding on each of them as
the case may be.Seller's Address: For the purpose of receiving or giving notice pertaining to any issue in this Agreement, the Seller(s) may be contacted at the following address:Street Address/Box #: City/Town:Postal Code:Telephone #: Cell Phone #:E-Mail Address: SAMPLEAgent / Auctioneer Initials: _FOR OFFICE USE ONLY:RECEIVED AND ACKNOW LEDGED BY / / _BUYER’S INITIALS DATETIMERE: (PROPERTY DESCRIPTION) _ _AGREEMENT OF PURCHASE & SALE, Page 3Slide26
(
Firm Name) (Name o
f Lawyer) (City
/Town)(Te
lephone/Contac
t info)Buyer's
Sol
i
c
i
tors: 22. Buyer's Address: For the purpose of receiving or giving notice pertaining to any issue in this Agreement, the Buyer(s) may be contacted at the following address:Street Address/Box #: City/Town:Postal Code: Telephone #:Cell Phone #:E-Mail Address: SIGNED, SEALED AND DELIVEREDon the day of , A.D. 20 WitnessSellerWitnessSellerWitnessBuyerWitnessBuyerSAMPLEAgent / Auctioneer Initials: _FOR OFFICE USE ONLY:RECEIVED AND ACKNOW LEDGED BY / / _BUYER’S INITIALS DATETIMERE: (PROPERTY DESCRIPTION) _ _AGREEMENT OF PURCHASE & SALE, Page 4Slide27
F
INTRAC
If you are the su
ccessful bidder,
you will be requir
ed by Federal Law to com
plete
a
Fi
ntrac ID Form.This FINTRAC Information Brochure explains the process and the requirement, followed by a sample Individual ID Form and a sample Corporate ID FormSlide28Slide29
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un
e
2
3
20
0
8
.
T
h
is
do
c
u
m
e
n
t
h
a
s
b
e
e
n
p
rep
a
r
e
d
b
y
T
h
e
Canad
i
a
n
Rea
l
E
s
t
a
t
e
A
s
s
oc
i
a
t
i
o
n
f
o
r
t
h
e
e
x
p
li
c
it
u
s
e
b
y
m
e
m
be
r
s
i
n
c
o
m
p
l
y
i
n
g
w
i
t
h
r
equ
i
r
e
m
en
t
s
o
f
Can
a
d
a
s
P
r
o
c
e
e
d
s
o
f
C
r
ime
(
M
one
y
Laun
d
er
i
ng
)
a
n
d
T
e
r
ror
i
s
t
F
i
n
an
c
i
n
g
A
c
t
(
P
C
M
L
T
F
A
)
200
8
W
E
B
Fo
rm
s
T
M
J
u
n/
2
0
0
8Slide30
C
o
r
p
o
r
a
t
i
o
n
/
E
n
t
i
t
y
I
d
e
n
t
i
f
i
c
a
t
i
on
I
n
f
o
r
m
a
t
i
on
R
e
c
or
d
V
e
r
i
f
i
c
a
t
ion
o
f
O
t
h
e
r
E
n
t
i
ty
(i
f
a
p
p
l
ic
ab
l
e
)
N
a
m
e
of
o
t
h
e
r
e
n
t
i
t
y:
A
d
dr
e
s
s
:
3
.
N
a
t
u
r
e
of
P
r
i
n
c
i
p
a
l
B
us
i
n
e
s
s:
3
.
T
y
p
e
of
V
e
r
i
f
i
c
a
t
i
o
n
Re
cord:
M
u
s
t
c
on
fi
r
m
e
x
i
s
t
e
n
c
e
o
f
o
t
h
e
r
e
n
ti
t
y
(
e
.
g
.
,
p
a
r
t
n
e
r
s
h
i
p
a
g
r
e
eme
n
t
,
a
r
t
i
c
l
e
s
o
f
a
ss
o
c
i
a
ti
o
n
)
.
S
ou
r
c
e
o
f
R
e
co
r
d:
R
e
c
o
r
d
m
a
y
b
e
p
a
p
e
r
o
r
a
n
e
l
e
c
tr
o
n
i
c
v
e
r
s
i
o
n
.
I
f
r
e
c
o
r
d
i
s
i
n
p
a
p
e
r
f
o
r
m
a
t
,
a
c
op
y
m
u
s
t
b
e
k
e
p
t
.
I
f
r
e
c
o
r
d
i
s
a
n
e
l
e
c
t
r
o
n
i
c
v
e
r
s
i
o
n
,
a
r
e
c
o
r
d
o
f
t
h
e
e
n
tity
'
s
r
e
g
i
s
t
r
a
t
i
o
n
n
u
m
b
e
r
a
n
d
ty
p
e
a
n
d
s
o
u
r
c
e
o
f
r
e
c
o
r
d
m
u
s
t
b
e
k
e
p
t
.
R
e
g
i
s
t
r
a
t
i
o
n
nu
m
b
e
r:
V
e
r
i
f
i
c
a
t
ion
of
Th
i
r
d
Pa
r
t
i
e
s
(i
f
a
p
p
l
ic
ab
l
e
)
N
O
T
E
:
C
o
m
p
l
e
te
t
h
is
s
e
c
t
i
on
o
f
t
he
form
w
h
e
n
a
c
l
i
e
nt
i
s
a
c
t
i
ng
on
b
eh
a
l
f
o
f
a
t
h
i
rd
p
a
r
t
y
.
W
h
ere
y
ou
c
a
nn
o
t
d
e
ter
m
i
n
e
i
f
t
h
e
r
e
i
s
a
t
h
i
r
d
pa
r
t
y
,
b
u
t
th
e
re
a
re
r
ea
s
on
a
b
l
e
g
r
o
u
nd
s
to
s
u
s
pe
c
t
the
c
l
ie
n
t
is
a
c
ti
ng
on
b
e
h
a
l
f
o
f
a
t
h
i
rd
p
a
r
t
y
,
y
o
u
m
u
s
t
k
e
e
p
a
r
e
c
o
r
d
of
th
a
t
f
a
c
t.
N
a
m
e
of
t
h
i
r
d
p
a
r
t
y:
A
dd
r
e
ss:
D
a
t
e
of
B
i
r
t
h:
N
a
t
u
r
e
o
f
P
r
i
nc
i
p
a
l
B
u
s
i
n
e
s
s
or
O
ccup
a
t
i
on:
I
ncorpo
r
a
t
i
o
n
numb
e
r
a
n
d
p
l
a
c
e
of
i
ssu
e
(
i
f
ap
p
l
i
c
a
b
l
e)
:
6
.
R
e
l
a
t
i
onsh
i
p
b
e
t
w
ee
n
t
h
i
r
d
p
a
r
ty
a
n
d
c
l
i
e
n
t
:
SAMPLE
2
/
2
CR
EA
J
un
e
2
3
20
0
8
.
T
h
is
do
c
u
m
e
n
t
h
a
s
b
e
e
n
p
rep
a
r
e
d
b
y
T
h
e
Canad
i
a
n
Rea
l
E
s
t
a
t
e
A
s
s
oc
i
a
t
i
o
n
f
o
r
t
h
e
e
x
p
li
c
it
u
s
e
b
y
m
e
m
be
r
s
i
n
c
o
m
p
l
y
i
n
g
w
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t
h
r
equ
i
r
e
m
en
t
s
o
f
Can
a
d
a
s
P
r
o
c
e
e
d
s
o
f
C
r
ime
(
M
one
y
Laun
d
er
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ng
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a
n
d
T
e
r
ror
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s
t
F
i
n
an
c
i
n
g
A
c
t
(
P
C
M
L
T
F
A
)
200
8
W
E
B
Fo
rm
s
T
M
J
u
n/
2
0
0
8Slide31
N
O
T
E
:
An
In
d
i
v
i
d
ual
Id
en
t
i
f
i
c
a
t
i
o
n
I
nf
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t
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on
Re
c
o
r
d
i
s
r
eq
u
i
red
b
y
t
h
e
Pro
c
ee
d
s
o
f
C
r
i
m
e
(
Mo
n
e
y
L
a
u
nd
er
i
n
g
)
a
nd
T
e
rror
i
s
t
F
i
n
an
c
i
ng
A
c
t
.
T
h
is
R
e
c
ord
m
u
s
t
b
e
c
o
m
pl
e
t
e
d
b
y
t
h
e
R
EA
L
T
OR
®
w
h
e
n
e
v
er
t
he
y
a
c
t
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re
s
p
e
c
t
to
t
h
e
pu
r
c
h
a
s
e
o
r
s
a
l
e
o
f
real
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s
t
a
t
e
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t
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m
me
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h
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o
r
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f
o
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r
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h
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t
h
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o
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u
bm
it
ted
a
nd/
o
r
a
d
ep
o
s
i
t
m
a
d
e
,
a
nd
for
a
s
e
l
l
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w
h
e
n
t
h
e
s
e
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l
er
a
c
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of
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r
.
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r
a
ns
a
c
t
i
o
n
P
r
op
e
r
ty
A
d
d
r
e
ss:
S
a
l
e
s
Re
pr
e
s
e
n
t
a
t
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v
e
/
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r
ok
e
r
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m
e
:
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a
t
e
:
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e
r
i
f
i
c
a
t
ion
o
f
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nd
i
v
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du
a
l
N
O
T
E
:
T
h
is
s
e
c
t
i
on
m
u
s
t
be
c
om
p
l
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t
e
d
for
c
l
i
ent
s
t
h
at
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re
i
n
d
i
v
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du
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l
s
or
u
nre
p
re
s
e
n
t
e
d
i
n
d
i
v
i
d
u
a
ls
wh
o
are
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ot
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l
i
e
n
t
s
,
b
u
t
a
r
e
p
a
rt
i
e
s
t
o
t
he
tran
s
a
c
t
i
o
n
(
e
.g.
u
n
r
e
pre
s
e
n
ted
bu
y
e
r
or
s
e
ll
e
r
)
.
Where
a
n
u
n
r
e
pr
e
s
e
n
t
e
d
i
nd
i
v
i
d
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al
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f
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s
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de
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nt
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f
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c
a
t
i
o
n
a
f
t
er
r
e
a
s
o
n
a
bl
e
e
f
for
t
s
are
m
a
d
e
t
o
v
er
i
f
y
t
h
a
t
i
den
t
i
f
i
c
a
t
i
o
n,
a
R
EA
L
T
OR
®
m
u
s
t
k
e
e
p
a
r
e
c
o
r
d
of
t
hat
re
f
u
s
a
l
a
n
d
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o
n
s
id
e
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s
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n
d
i
ng
a
S
u
s
p
i
c
io
u
s
T
r
a
n
s
a
c
t
i
o
n
R
e
p
o
r
t
to
FI
N
T
R
AC
i
f
th
e
re
a
r
e
r
e
a
s
o
n
ab
l
e
grou
n
d
s
to
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s
pe
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t
t
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a
t
t
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r
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me
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r
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or
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s
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a
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t
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here
y
ou
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r
e
u
s
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a
ge
n
t
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n
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a
t
a
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i
be
d
i
n
C
R
EA
's
FI
N
T
R
AC
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p
li
a
n
c
e
b
o
o
k
l
et
.
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u
l
l
l
e
g
a
l
n
a
m
e
of
i
n
d
i
v
i
du
a
l
:
A
d
dr
e
s
s
:
D
a
t
e
of
Bi
r
t
h:
N
a
t
u
r
e
of
P
r
i
n
c
i
p
a
l
B
us
i
n
e
s
s
or
O
ccup
a
t
i
on:
T
y
p
e
of
I
d
e
n
t
i
f
i
c
a
t
i
o
n
D
o
cu
m
e
n
t
*
:
6
.
D
ocu
m
e
nt
I
d
e
n
t
i
f
i
e
r
N
u
m
b
e
r
:
7
.
I
s
su
i
n
g
Ju
r
i
s
d
i
c
t
i
on:
8
.
D
ocu
m
e
nt
E
xp
i
r
y
D
a
t
e
:
(
m
u
s
t
b
e
v
a
li
d
a
n
d
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o
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x
p
i
r
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)
*
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cc
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p
t
ab
l
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n
ti
fi
c
a
t
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d
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c
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:
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r
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h
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rt
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f
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t
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,
d
r
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r
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e
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p
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8Slide32
W
HAT
YOU NEED TO KNOW ABO
UT “FINTRAC”
On June 23rd, 2008 new federal
money laundering and anti-terrorist financing regulations came
into effect
t
h
at
require real estate agents and brokers to collect personal identification information from buyers and sellers.Your REALTOR® requires this identification information to comply with the law. It is the federal Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) that requires financial institutions and real estate agents, among other professionals and services covered by the legislation, to identify customers who conduct financial transactions.These include depositing funds or buying and selling real estate. The Act also requires real estate agents to keep these identification records for five years.Canada has had substantial anti-money laundering and terrorist financing legislation since 2001. Since then REALTORS® have had a legal responsibility in Canada’s efforts to combat money laundering and terrorist financing, by reporting any cash transactions of $10,000 or more, or reporting suspicious real estate transactions.Those original legal requirements still exist but under these new regulations, REALTORS®
must now document personal information and proof of th
e i
dentity
o
f
t
h
e
i
r
c
l
i
en
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i
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ea
ch
an
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upa
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on
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e
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ll
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ano
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an
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-
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o
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m
eeting is held, REALTORS® must now use an agent or “mandatary” to identify third parties.The new compliance requirements effect even a buyer or seller not using the services of a licensed real estate practitioner. If there is a real estate agent involved in the transaction
, they
are also required by law to now verify that private buyer or seller’s information as well.REALTORS® must also complete a report for ALL funds they receive during the real estate transaction, not just those of$10,000 or
more.What your REALTOR® needs to do to comply with the law.The real estate agent you are dealing with is required by law to ask for and verify your personal information. By providing this information when requested, you will ensure that they can meet their legal obligations. The Act requires REALTORS® to keep identification records, and track all funds (not just large amounts of cash) provided during the real estate transaction.ID PleaseUnder the new rules, REALTORS(r) are required to obtain, record, and retain the personal information of their clients, including date of birth and occupation. To do this, they must ask for a government-issued identification document such as a drivers license, passport, or residency card. You should not provide your Social Insurance card as identification.REALTORS® are required to keep a record of this information on file in the brokerage for a period of five years. For the purpose of compliance with this law, REALTORS® are not required to keep photocopies of government issued ID, just the factual data contained on it. However, your REALTOR® may make a photocopy of your ID becau
s
e
o
f
o
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he
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ep
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pa
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eque
s
t
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ona
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e
.Slide33
I
s ther
e anyone else invol
ved?There are
aspects of y
our real estate tran
sac
t
i
o
n that might prompt the real estate agent you are dealing with to ask you for more information. For instance, you may be asked whether you are acting on behalf of a third party while conducting your transaction. This basically means you are following the instructions of someone else in completing the transaction, or someone else (individual or company) is involved in financing the transaction.If there is a third party involved, your REALTOR® is also required by law to obtain their identification information, and keep that information on file for five years.Details of the depositEvery time funds are received by a REALTOR® (e.g. a deposit) during the course of a real estate transaction, they are required to record the amount received and how it was obtained. Your real estate agent then must record this information, and also keep it on file at the brokerage for a five year period.Your information is kept confidentialThe only reason the R
EALTOR® keeps your personal information on file is to c
omp
ly wi
t
h
t
h
e
ne
w
f
ede
r
a
l
l
a
w
s
.
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an
y
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s
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ep
t
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s
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t
o a r
eque
s
t
f
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m
t
h
e
f
ede
r
a
l
agen
cy
r
e
s
po
n
s
i
b
l
e
f
o
r
c
o
m
p
l
i
an
c
e
,
t
h
e
F
i
nan
c
i
a
l
T
r
an
s
a
c
t
i
on
s
an
d
Repo
r
t
s
A
na
l
y
s
i
s
Cen
t
re
o
f
Canad
a (
F
I
N
T
R
A
C
).
T
h
e
l
a
w r
equ
i
r
e
s
t
hese files be kept at the brokers office for five (5) years.What you need to know about this new federal law.While Bill C-25 is Canada’s newest legislative attempt to curtail money laundering and terrorist financing, we have had legislation since 2001 that required designated industries in Canada (
incl
uding real estate) to report suspicious transactions and large cash transactions of $10,000 or more.Money launderingMoney laundering is the process used to disguise the source of money or assets derived from criminal activity.
This illegal activity can include drug trafficking, smuggling, fraud, extortion and corruption. Criminals must launder the profits and proceeds from these crimes to be able to enjoy them. The scope of criminal proceeds is significant; the International Monetary Fund (IMF) estimated that some $500 billion (U.S.) is laundered worldwide each year.Terrorist financingTerrorist financing operates somewhat differently from money laundering. While terrorist groups do generate funds from criminal activities such as drug trafficking and arms smuggling, they also obtain revenue through legal means. Supporters of terrorist causes may, for example, raise funds from their local communities by hosting events or membership drives. In addition, some charity or relief organizations may unknowingly become the route where donors contribute funds that may eventually be used to commit a terrorist act.How does FINTRAC assist law enforcement and security agencies?The Financial Transactions and Reports Analysis Centre of Canada, or FINTRAC, collects, analyzes and discloses financial information and intelligence on suspected money laundering and t
e
rr
o
r
i
s
t
f
i
nan
c
i
n
g
a
c
t
i
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i
t
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s
.
I
t
w
a
s
cr
ea
t
e
d
a
s
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rt
o
f
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Canad
i
a
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o
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r
n
m
en
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a
t
i
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o
f
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gh
t
m
one
y
l
aunde
r
in
g
an
d
t
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rr
o
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i
s
t
f
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nan
c
i
ng
.
A
l
t
houg
h
i
t
ope
r
a
t
e
s
a
t
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r
m
s
l
eng
t
h
f
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l
a
w
en
f
o
rc
e
m
en
t
,
FI
N
T
R
A
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'
s
p
r
i
m
a
ry
r
o
l
e
i
s
t
o
p
r
o
v
i
d
e
l
a
w
en
f
o
rc
e
m
en
t
agen
c
i
e
s
w
i
t
h
i
n
f
o
r
m
a
t
i
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p
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e
m
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e
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r
i
n
v
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s
t
i
ga
t
i
on
s
.Slide34
F
IN
TRAC is require
d by law
to protect
the personal informa
ti
o
n
it receives from unauthorized disclosure.Who must report to FINTRAC?The following persons and entities must report suspicious and certain other transactions to FINTRAC:real estate brokers and agents;financial entities including banks, credit unions, caisses populaires, trust and loan companies and agents of the Crown that accept deposit liabilities;life insurance companies, brokers or agents;securities dealers, portfolio managers and investment counsellors who are provincially authorized;persons engaged in the business of foreign exchange dealing;money services businesses;accountants and accounting firms when carrying out certain activities on behalf of their clients;casinos; andindividuals and any entity importing or exporting currency or monetary instruments (such as a money order) of $10,000 or more.Additional information about this federal initiative, the federal legislation, and the role of FINTRAC in the reporting system is availa
ble at www.fintrac-canafe.gc.ca.Slide35Slide36
T
E
R
MS
& CONDITIONSP
ROPERTY WILL BE OFFERED BY
PUBLIC
A
U
CTION IN INDIVIDUAL PARCELS.A non-refundable deposit of 10% of the purchase price will be required from the successful bidder on sale day.Balance of the purchase price must be paid in full within 30 days of sale date. Possession to be upon completion of payment and transfer of title.2014 taxes to be paid by Seller.Buyer and Seller will be responsible for their own legal fees.Final bid will be subject to seller's approval on sale day.Any GST/PST applicable to the sale of the property is the responsibility of the Buyer and is NOT included in the bid price.- THE PROPERTY WILL BE SOLD AS IS WITH NO WARRANTIES EXPRESSED OR IMPLIED.- IF PARCELS ARE SOLD TO SEPARATE BUYERS, IT WILL BE THE BUYERS' RESPONSIBILITY TO DETERMINE OR VERIFY BOUNDARY LINES (WHERE & AS REQUIRED) AT THEIR OWN EXPENSE. ALL ANNOUNCEMENTS ON AUCTION DAY TAKE PRECEDENCE OVER PREVIOUSLY ADVERTISEDINFORMATION. (ALL INFORMATION SUBJECT TO CHANGE WITHOUT NOTICE)PROPERTY TO BE SOLD WITHOUT WARRANTY. All dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the prope
rty. Bidders should inspect the property and also review all the pertinent document
s an
d inform
a
t
i
o
n
a
v
ai
l
a
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e
,
a
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ope
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e
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u
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m
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ee
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T
h
e
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ope
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t
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an
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pl
ied.ENVIRONMENTAL DISCLAIMER. The Seller, Broker and Auctioneers do not warrant with respect to the existence or nonexistence of any pollutants, contaminants or hazardous waste prohibited by federal, provincial or local law. Buyer is responsible for inspection of the property prior to purchase for conditions including but not limited to water quality, seepage, septic and sewer operation and condition, radon gas, asbestos, presence of lead based paint, and any and all str
uctural
or environmental conditions that may affect the usability or value of the property. No warranties are made as to the existence or nonexistence of water wells on the property, or the condition of any wells.SELLER'S PERFORMANCE. The Seller has agreed to the terms of the sale as published. However, the Broker
and Auctioneer make no warranties or guarantees as to the Seller's performance.AGENCY DISCLOSURE: KRAMER AUCTIONS – REAL ESTATE DIVISION INC and/or NEIL KRAMER AUCTIONSALES LTD. is representing the Seller and will be paid by the seller.BIDDING PROCEDUREAs a buyer you have two objectives to accomplish:Purchasing the property.Purchasing the property at a price you can afford.How is this accomplished:Estimate comparative value.Experienced buyers always decide what to pay before the bidding begins.Inspect the property carefully.Compare with other properties available in the area.Check the selling price of previously sold properties.Discuss your buying plans with a lender. Have your financing arrangements made in advance.This sale is not subject to financing.THE BIDDING STRATEGYResearch and know the value of the property.Have your financing arranged before the auction.Establish your highest and best bid before the bidding begins.Make your bids promptly to force other bidders up or out without delay.