B.C. real estate agent fined $35K for failing to ensure clients knew about special levy before condo purchase
CTV
The real estate agent for a downsizing B.C. couple who were shocked to learn that their new home came with a more-than-$60,000 special levy has agreed to face discipline for misconduct.
The real estate agent for a downsizing B.C. couple who were shocked to learn that their new home came with a more-than-$60,000 special levy has agreed to face discipline for misconduct.
Suleman Yasin and his Sutton Group–West Coast Realty team, which called itself "The BC Elite Real Estate Group," were the agents for the couple in their purchase of a White Rock condo in 2018.
The couple was looking to relocate from Langley and opted to purchase a home in a four-storey, 39-unit, wood-framed condo building in White Rock that was built in 1986, according to a consent agreement posted on the BC Financial Services Authority website last week.
According to the agreement, the building's strata council identified issues with the "exterior building envelope" in 2016, which were documented extensively in various strata documents.
Among those documents were meeting minutes showing that the council had passed a motion to move forward with repairs to the building – estimated to cost $2 million – by obtaining two additional proposals to bring to owners. That was in January 2018.
In March of the same year, the buyers entered a contract of purchase and sale, promising to buy the property for $379,000, subject to conditions that included a review of strata documents.
The seller's agent sent the relevant documents to a member of Yasin's team identified in the consent agreement only as JD.
