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Sale of Lots
The City will be
selling by public auction or by inviting public tenders for purchase of
lots which are made available for sale from time to time, at reserve
prices set by Council.
Public tender
allows purchasers to lodge a sealed offer to purchase a lot or lots at a
price which is known only to themselves until
the tender box is opened at the time and day specified in tender
documentation for the sale. Any person who
lodges a tender, or their representative, may attend the opening of
tenders.
Tenderers will
usually be advised of Council’s decision within fourteen days of
the close of tenders, depending on Council meeting dates. Any lots which
are not sold may be included in a following round of tenders, offered for
sale by private treaty or withdrawn from sale by Council.
Council has the
right to reject any tender or accept the tender considered most
advantageous to the City whether or not a tender may be the highest
tender received for a particular lot. Tender documents containing the
full conditions of sale and tender will be available from the City of Canning
approximately one month before close of tenders.
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Reserve
Prices
Reserve prices for
individual lots will be determined by Council based on valuation advice
prior to the City inviting tenders or offering lots for sale by auction.
GST Margin Scheme
The purchase price
tendered for a lot or bid at public auction shall be inserted inclusive
of any GST liability payable by the City pursuant to the margin scheme
under the GST Act.
However, the City
may individually choose whether to apply the margin scheme on the
disposal of each lot subdivided.
The City will
determine whether the margin scheme will apply to the sale of a lot at or
before the time a sale is made. Tender documents, auction and Offer and
Acceptance forms will provide for such options.
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