A B.M. realtor is facing a court hearing on Tuesday after allegedly selling a property for $1.4 million without paying the seller a cent.
The realtor, Weicherts, said he was approached by a Bancroft Real Estate agent who told him that the property had been sold to a Bizan buyer and that the Bancros had not paid for the property.
In court, Weics lawyer said that he has sold properties without paying a cent to the B.B.C.’s real estate regulator.
He has been approached by the BIS and the Real Estate Institute of B.S.B., saying he should not be able to sell his property without a licence.
“I have not been charged with any offence, so there is no offence there,” said Weics defence lawyer, John St. Laurent.
St. Laurent also noted that the seller of the property is currently living with the Bis in a separate address, which is in violation of the law.
A spokesperson for the Bizans attorney, John DeGioia, said that while the agent had provided an explanation of why the property was sold without payment, it had been previously denied and the realtor was being investigated for illegal activity.
Bancrofts director of communications, John O’Brien, confirmed that the agent is currently under investigation for illegal activities.
O’Brien said that in addition to an “illegal sale” and “unlicensed broker-dealer” investigation, the agent has been charged in a “complaint for the unlawful sale of property”.
“He is being investigated by BIS, Real Estate, and BC Civil Code Division,” said O’Briens spokesperson.
On Monday, Bancrus owner and manager David DeGios confirmed that Bancron owners were being investigated in the same manner as any other Bancorp property.
DeGios said that the real estate agent had been contacted by the Real Property Institute of British Columbia and asked to provide a copy of the sales contract.
However, the Real estate institute declined to provide that copy, and instead sent a letter to the realty firm, saying that they were still waiting for the agent to respond to the inquiry.
“We’re waiting for an official response from Bancr’s office,” said DeGians spokesperson.
“They are asking us to provide their legal advice and a list of potential legal issues with the agent, including an allegation that he may have been breaching the BANCR Act.”
DeGians lawyer told the court that he will have to turn over the B&B agent’s document to the Real &Br &)B Real Estate Licensing Division, who will then have to decide whether to revoke the licence.
“The B&am will be able only to revoke his license,” said the lawyer.
Real Estate Institute spokesperson, DeGiacio, told us that “there is no basis for this complaint, and the agent’s license will be revoked”.
“This is not an appropriate use of the BIC licence for any real estate broker,” he said.
Our ruling: It’s not illegal to sell your property without paying.
But it’s illegal for a B&B agent to sell a property without getting a licence, and it’s not a crime.
A real estate scam: In a case that could cost B.D. Howe $1 million, real estate mogul David DeCristofaro allegedly sold a condo in Vancouver for $3.6 million in 2014 without getting his licence.
The Bancraz filed a complaint with the BC Civil Registry in January, saying DeCrimo’s agent had sold the condo without paying its sale price.
This complaint has since been dismissed, and DeCriso is facing the possibility of a civil complaint against him.
We checked with the Real&&r &ot real estate licensing division, which did not return our calls for comment.