Affordable Properties in Super-Natural Canada
GENERAL TERMS & CONDITIONS:
Since 2015, Eldorado Land Company has been offering vacant land, country acreages & recreational properties for sale across Canada. View our listings to see the various properties we have for sale in Western, Central & Atlantic Canada.
All bare-land properties available for sale automatically qualify for our 5 year (60 month) @ 5% – In-House Vendor Financing
A 10% discount is applied to all sales paid in full within 30 days
First Come, First Served – Each parcel of land will be sold to the first person who contacts our office to arrange the required deposit.
DOCUMENTS ON FILE:
We hold perfect title, in the form of Deed, or Certificate of Title, for every property we offer, and these documents may be inspected at our office at any time. We undertake to give you clear title or refund the amount you have paid to us, in full, without interest or other charges.
CANADIAN SALES TAX*:
Some listed properties may be subject to a one-time Canadian Goods and Services Tax (GST) or Harmonized Sales Tax (HST). Non-Canadian buyers may in some cases be tax exempt – all applicable transaction taxes will be disclosed in writing prior to the final closing.
Each province has a different system and in some cases, we are required to register title for you through our Solicitors. For others, we do not register your title but supply the information on costs and clear instructions for easy registration.
Non-Residents of Canada: Non-Residents of Canada may purchase properties in Canada under the same conditions as Canadian residents.
WHAT IS A CONTRACT FOR *DEED?:
If the owner of a property wishes to sell the property to a buyer and wants to finance the sale, he or she will need to use a Contract for Deed. This type of agreement which allows the Seller to transfer the title of the property to the Buyer while retaining the title is also known as a Real Estate Instalment Agreement, Contract Sale, Land Contract or Agreement for Deed.
1 – Under a Contract for Deed, once the Buyer has made all the payments specified in the agreement and met all other obligations, the Seller must transfer a valid legal title through a Deed
2 – Through a Contract for Deed, the Seller finances the property that is being sold while keeping the title or deed as security. The Buyer will make payments in instalments for the duration of the Contract for Deed and is allowed possession of the property
3 – The Seller will remain liable for any existing mortgage on the property
Some of the advantages of Contracts for Deed are that the closing costs associated with this type of transaction are usually lower than transactions involving mortgages, banks or other institutional type lenders.
Additionally, this type of Agreement can be useful when other financing may not be even available to Buyer.
CAN A NON-RESIDENT BUY LAND IN CANADA?
Yes! – A non-resident can buy land in Canada under the same conditions as a Canadian citizen, with the following exceptions:
1. Non-residents can only own up to 10 acres in Saskatchewan.
2. Non-residents can only own up to 40 acres in Manitoba.
HOW DOES ELDORADO LAND COMPANY’S IN-HOUSE FINANCING WORK?
We offer guaranteed in-house financing. We do not perform a credit check, so your credit rating – whatever it’s standing – is not a factor.
HOW DO I PROCEED WITH A PURCHASE?
Simply contact our office by phone, email or via our web site in order to check the availability of your property of interest and arrange for the deposit. Remember, first come, first served.
CAN I PAY OF THE PROPERTY EARLY?
Yes, our accounts are open & payable at any time without penalty.
All property listings are quoted for sale in USD – unless otherwise noted
Terms of payment are quoted in the individual property descriptions and the purchaser may choose for himself whether to take advantage of the discount offered for *cash or to pay in regular monthly instalments.
If payments are to be made by instalments, the first monthly payment will fall due one month from the date of acceptance of the order and regularly each month thereafter on the same date until the purchase price is paid in full.
Regularity of monthly payments is essential. Interest will be calculated monthly, on the unpaid balance of the account (including taxes paid on the customer’s behalf) at a rate of 5% (five percent) yearly.
*JUST SOME OF THE IMPORTANT PROVISIONS INCLUDED IN A CONTRACT FOR DEED:
Parties: Identifies the Seller and Buyer involved in the transaction
Price and Payment: Sets forth the price for the property and when and how payments are to be made
Security: Explains that the Contract stands as security for the performance and payments by Buyer
AS-IS condition of Property: Buyer will accept the property AS-IS
Deed and Evidence of Title: Promise that seller will deliver a general warranty deed after buyer fulfills his or her obligations
Title: Assurance that title will be free and clear of all encumbrances
Taxes and Assessments: States that Buyer will pay all taxes and assessments
Risk of Loss and Insurance: Assigns the risk of loss by negligence, fire or other casualty
Prepayment: Explains what happens if the Buyer prepays
Possession of Property: Buyer shall have possession of the property as long as all contract terms are complied with
Default by Buyer: Consequences of default by Buyer
Maintenance of Property: States that Buyer will maintain property
Mortgage by Seller: Explains that Seller may place a mortgage on the property
Conveyance by Seller: Seller may convey his or her interest in the property
Joint and Several Liabilities: If there is more than one Buyer, all will be jointly and severally liable
Reinstatement after Acceleration: Buyer may reinstate this Contract in the event of default and acceleration according to law
Assignment of Sale by Buyer: States that Buyer will not assign his interest in the property without consent of the seller
Disputes: Allows the parties to select how to handle disputes
Happy Hunting….The Great Canadian East Coast Land Rush is On!