Purchasing Land Not Currently For Sale
Navigating the path to purchasing land, not currently for sale, from the City of Medicine Hat: A step-by-step guide
Are you considering buying land from the City of Medicine Hat? Our team in Land & Real Estate is here to help. Whether you’re a seasoned developer or a first-time buyer, understanding the municipal approvals process can make all the difference.
Here’s a breakdown of what to expect:
Estimated real estate sales process timeline*
*Subject to change based on complexity and purchaser timelines
| Real Estate Sales Process |
| Expression of Interest submission |
| Begin by filling out the Expression of Interest form with as much detail as possible. |
| Internal Review |
| The Land & Real Estate team will reach out to you with any questions and then review and evaluate the expression of interest. |
| Technical Coordinating Committee |
| The Land & Real Estate will initiate a TCC for circulation to all City departments to see if there are any challenges or concerns with selling the land. |
| Complete a Comprehensive Market Analysis |
| The Land & Real Estate team will conduct and in house CMA to determine the fair market value of the land. |
| Proposal letter & negotiation |
| A proposal letter will be emailed to the applicant. We will share the findings of the TCC and the CMA. If the applicant decides they would like to move forward, the Land & Real Estate team will negotiate the terms and conditions of the transaction.
This period may vary depending on the complexity of the negotiations. |
| Administrative approval |
| Land & Real Estate makes a recommendation to sell the subject property. We will bring forward the strategy, list price and terms and conditions of the sale. The recommendation will go through the appropriate Committees and to Council for a decision. |
| Council approval |
| If council chooses to sell the parcel, then Land & Real Estate shall commence negotiations with the purchaser. The City solicitors will then prepare the Real Estate Purchase Contract.
*Securing a date on Council's calendar may prolong the timeline, depending on alignment with meeting schedules. |
| Purchaser due diligence |
| The purchaser initiates the process of meticulously examining the property, gathering all essential information needed to make an informed decision about moving forward with the purchase. This may include getting studies done, development approval, rezoning, or consolidation, all of which will be at the purchaser’s expense. |
| Closing |
| Closing funds are received, and Closing documents are forwarded to the purchaser’s solicitor for registration.
In total, depending on the complexity of the transaction, it could take as few as six months and as many as nine or more months from submitting the Purchaser Application Form to Closing on the sale of the property. As the transaction is being finalized, the purchaser ideally is nearing the acquisition of planning approvals and can commence construction without delay upon Closing. At every stage, our team provides support and guidance, ensuring your experience is seamless. Don't hesitate to reach out if you have any questions. We're here to help you every step of the way. |
Summary
In total, depending on the complexity of the transaction, it could take as few as six months and as many as nine or more months from submitting the purchaser application to closing on the sale of the property.
As the transaction is being finalized, the purchaser ideally is nearing the acquisition of planning approvals and can commence construction without delay upon Closing.
At every stage, our team provides support and guidance, ensuring your experience is seamless. Don't hesitate to reach out if you have any questions. We're here to help you every step of the way.