Saskatchewan Ministry of Agriculture Real Estate Auction — Online bidding ends March

[farmaholic]

[URL=https://www.equipmentone.com/ca-land]https://www.equipmentone.com/ca-land[/URL]

Is this from the old land bank days?

The government has been trying to divest itself of land bank land for a while now. Is this the stuff that the existing tenants wouldn't purchase and the Government decided to put it up for E-bay style public auction? I think it would be fair to say this process was started before the Sask Gov knew they were in deficit trouble.

None in my immediate area.

[Guest]

I think the govt should own power co, phone co, gas co and should own a fuel co also . things we can't get by without . and of course medical also . but they should never have owned farmland , ever ! we competed against land bank all our farming careers . the rent they were charging years ago wasn't even in the market . they were giving it away .

[Horse]

Casein. Right on like here in welfare Alberta those with crown land for little to no rent and we have to compete with those that has the taxpayer pey their bills ,and we all have to sell into the same market,
wating to see on this new budget coming down if the n
nds will take some of their welfare away from them.

[Integrity_Farmer]

I think the govt should own power co, phone co, gas co and should own a fuel co also . things we can't get by without . and of course medical also . but they should never have owned farmland , ever ! we competed against land bank all our farming careers . the rent they were charging years ago wasn't even in the market . they were giving it away .

What about foreign investors and non farmers driving up the cost of land? What about the FCC putting out loans to purchase land that makes no economic sense?

[bucket]

Brad is doing his best to balance the budget....surprised sasktel isn't on same page....

[oneoff]

Well maybe not Sasktel; but Her Majesty the Queen has a "couple" of quarters a little NE of Estevan.

Its interesting that the arm of Ritchie Bros conducting the sale says the property will be sold to the highest bidder..regardless of price. If you find the terms and conditions it says "foreign ownership in certain provinces and additional taxes on purchase of real estate by non-Canadian citizens and non-qualified organizations may apply; but buyer is solely responsible for determining that information. Nowhere does it clearly say that Sask is what the auction company means in this case.

Certain disclosure documents may be required to be signed and no assignment to third parties.

Some quarters have buyer's premiums. Some places it says reserves must be met (on at least certain parcels I saw). Some information requires logging into Ritchie Bros site.

And Her Majesty does have some for sale; that doesn't appear to have anything to do with the Sask Land Bank Commission.

Oh...and for those who weren't around in the early 1970's; a whole lot of the Land Bank Commission land was initially bought for $75.00 per acre. And the reason (in most cases) it was sold to the government was because nobody else was buying that land.

As for rent being below what the market was paying 10 or so years later...that might have been very well so. Should anyone or everyone have suffered with 24% interest rates?. Is that not an arguable point in favour of having use of land during a farmer's lifetime...and maybe even allowing it to be passed on to some new blood every half century or so.
I remember the haste to grab $5000/ quarter rented land; and the disastrous outcomes of some nearby dull pencils. That was cruel and set back or destroyed a lot of plans. Just for those who weren't around to remember...that was many years after the Land Banl concept was adopted by the provincial government as an alternative way to allow entry into farming for quite a few people. Did it affect purchasers of land much more (at the time) than later might have seen by some it as a missed opportunity?

If anyone brings up Land Bank Land selling for below market price I'm not so sure all cases cited know what they are talking about. The highest price for a quarter I heard of was $68,000 at a time when other freehold land could have been has for a fair bit less. (considering what a dollar bought in those days; compared to both before and after) had to be paid to the Land Bank Commission as that was their fixed sale price.

Tenants did not have control of "their" land that they farmed. The government department overseeing it did seem to be hands off in most cases. If an oil well was to be drilled; the acreage was taken out of the lease and the tenant basically got diddly squat and if the land was ever purchased; then the lease had to be bought separately. So it was not all one sided by any means.

It did allow (up to the land available) for new comers to farming to get a start. It didn't cost the taxpayers a fortune; and no one had to sell to the Land Bank and nothing was stopping any existing farmers from buying it from farmers wishing to sell.
That was a decade before any quarter in the neighborhood was available for $50,000 (many with all buildings and improvements). Same thing...just about everyone said $50,000 was too much and it would never pay for itself.

And that time was throughout the 1990's.


A

[Guest]

Well maybe not Sasktel; but Her Majesty the Queen has a "couple" of quarters a little NE of Estevan.

Its interesting that the arm of Ritchie Bros conducting the sale says the property will be sold to the highest bidder..regardless of price. If you find the terms and conditions it says "foreign ownership in certain provinces and additional taxes on purchase of real estate by non-Canadian citizens and non-qualified organizations may apply; but buyer is solely responsible for determining that information. Nowhere does it clearly say that Sask is what the auction company means in this case.

Certain disclosure documents may be required to be signed and no assignment to third parties.

Some quarters have buyer's premiums. Some places it says reserves must be met (on at least certain parcels I saw). Some information requires logging into Ritchie Bros site.

And Her Majesty does have some for sale; that doesn't appear to have anything to do with the Sask Land Bank Commission.

Oh...and for those who weren't around in the early 1970's; a whole lot of the Land Bank Commission land was initially bought for $75.00 per acre. And the reason (in most cases) it was sold to the government was because nobody else was buying that land.

As for rent being below what the market was paying 10 or so years later...that might have been very well so. Should anyone or everyone have suffered with 24% interest rates?. Is that not an arguable point in favour of having use of land during a farmer's lifetime...and maybe even allowing it to be passed on to some new blood every half century or so.
I remember the haste to grab $5000/ quarter rented land; and the disastrous outcomes of some nearby dull pencils. That was cruel and set back or destroyed a lot of plans. Just for those who weren't around to remember...that was many years after the Land Banl concept was adopted by the provincial government as an alternative way to allow entry into farming for quite a few people. Did it affect purchasers of land much more (at the time) than later might have seen by some it as a missed opportunity?

If anyone brings up Land Bank Land selling for below market price I'm not so sure all cases cited know what they are talking about. The highest price for a quarter I heard of was $68,000 at a time when other freehold land could have been has for a fair bit less. (considering what a dollar bought in those days; compared to both before and after) had to be paid to the Land Bank Commission as that was their fixed sale price.

Tenants did not have control of "their" land that they farmed. The government department overseeing it did seem to be hands off in most cases. If an oil well was to be drilled; the acreage was taken out of the lease and the tenant basically got diddly squat and if the land was ever purchased; then the lease had to be bought separately. So it was not all one sided by any means.

It did allow (up to the land available) for new comers to farming to get a start. It didn't cost the taxpayers a fortune; and no one had to sell to the Land Bank and nothing was stopping any existing farmers from buying it from farmers wishing to sell.
That was a decade before any quarter in the neighborhood was available for $50,000 (many with all buildings and improvements). Same thing...just about everyone said $50,000 was too much and it would never pay for itself.

And that time was throughout the 1990's.


A

Well,this was close family : father sold land for 30 times the assesment to ndp land bank , (about 1979) going rate in those days was about half that . Then his sons rented it for 30 years for half the going rate . Then bought it about 6 years ago , sold it for double in 6 months what they paid . The whole ****ing thing was a joke . We never had a chance to buy or rent it , ever

[Guest]

Only the guys that had land bank land supported that outfit . Pretty unfair for guys that paid their own way

[oneoff]

Assessment changes every 4 years. What were actual sales prices on each of dates? And 30 times assessment seems like a multiplication factor that is way out of whack when used to calculate a sales value. What else was involved?.

If true; maybe the GTA deals got ideas from such scams.

[oneoff]

Well,this was close family : father sold land for 30 times the assesment to ndp land bank , (about 1979) going rate in those days was about half that . Then his sons rented it for 30 years for half the going rate . Then bought it about 6 years ago , sold it for double in 6 months what they paid . The whole ****ing thing was a joke . We never had a chance to buy or rent it , ever

Just saying