ItB次元官网网址檚 a legal grey area, and it can also be a moral one for real-estate agents B次元官网网址� what to do when a property has a violent past?
Properties that were once home to violent crime can take a hit in interest and value.
On Feb. 2, 2008 real estate agent Lindsay Buziak was stabbed to death while showing an unoccupied home in Gordon Head. The murder B次元官网网址� which remains unsolved B次元官网网址� has garnered international attention over the last decade. 1702 De Sousa Pl., the property she was showing when she was killed, didnB次元官网网址檛 sell until March of the next year. Real Estate Weekly reports that the property was sold for just under $763,000 B次元官网网址�$200,000 less than it was listed for.
In B.C. real estate agents do not need to openly disclose violent stigmas. ItB次元官网网址檚 largely up to individual real estate agents to choose what to disclose openly and when.
Later in 2009, Oak Bay realtor Greg Phillips found himself in such a scenario.
He was tasked to sell 310 King George Terrace, then home to Peter Kyun Joon Lee, his wife Yong Sun Park and their son Cristian. On Sept. 4, 2007B次元官网网址攁fter the property was originally listed for sale B次元官网网址� Lee fatally stabbed Park, ParkB次元官网网址檚 parents, and their son before taking his own life.
B次元官网网址淪o then youB次元官网网址檙e kind of in a position of what do we do next? So it came off the market of course.B次元官网网址� said Phillips. B次元官网网址淭here wasnB次元官网网址檛 really anyone around to sign anything or give direction or do anything about it, but obviously it had to come off. It was quite sometime later I had a call from the lawyer for the estate about the property. They asked if I would list it and I agreed to, with the understanding that it was to be disclosed to anybody who would be writing an offer on it, irrespective of what the law said.B次元官网网址�
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According to Phillips, there was nothing concrete in case law at that time about stigma disclosures.
Today, the online Real Estate Council of BC (RECBC) Professional Standards Manual (PSM) has a that discusses stigmatized properties. It says that if asked about stigmas, the seller may B次元官网网址渄ecline to answer the question and advise the buyer to conduct his or her own investigation.B次元官网网址� A material latent defect must be reported to potential buyers, but violent histories are not specifically mentioned. The RECBC PSM does say if the seller is asked and chooses to answer, they B次元官网网址淏次元官网网址ould be expected to use reasonable skill and care to ensure the accuracy and completeness of the information they provide.B次元官网网址�
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In March 2018 a Vancouver woman was ordered to return a $300,000 deposit to a would-be buyer because of a dishonest disclosure back in 2009. The sellerB次元官网网址檚 son-in-law had been killed just outside the house, but the buyer did not become aware until after the deposit had been paid. A judge ruled in the buyerB次元官网网址檚 favour on the grounds the buyer was entitled to an accurate answer of why the house was for sale. It was determined that the answer the seller provided was not entirely accurate, as the murder did play a role in the choice to sell.
Back in Oak Bay, Phillips admits that he was in an awkward position because he already was engaged with the family before the tragedy. He said part of why he eventually sold the property was to do right by the victims, although he was adamant about disclosure.
B次元官网网址淚 didnB次元官网网址檛 really care what law said,B次元官网网址� said Phillips. B次元官网网址淎s I said to the lawyer, I donB次元官网网址檛 want to be the test case.B次元官网网址�
Although his memory is foggy on the specifics, Phillips said he listed the house at its original priceB次元官网网址攋ust a shade over a million dollars he said. REW reports that the property sold for $880,000 in April 2009. He couldnB次元官网网址檛 say for sure how many people were turned away from the house because of its past because everyone who saw the place was aware of it before they entered.
B次元官网网址淚tB次元官网网址檚 certainly not something you want to repeat in your career if you can help it,B次元官网网址� Phillips said.
Another local agent has recently found himself in a similar situation. On Jan. 6, Jason Binab posted an Instagram photo of 2590 Esplanade in Oak Bay B次元官网网址� where a widely publicized violent attack took place in April 2017.
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Binab was given the opportunity to comment on the property for this article, but as per the sellerB次元官网网址檚 wishes declined to comment specifically on 2590 Esplanade. Broadly speaking, he did say that he would never risk his license by not disclosing something that is legally mandated to be disclosed.
B次元官网网址淎nything is going to be done by the books,B次元官网网址� Binab said. B次元官网网址淚f the law requires disclosure for something for any of my listings, not talking about Esplanade, then the law will be followed. And if thereB次元官网网址檚 no disclosure, then thereB次元官网网址檚 no disclosure required.B次元官网网址�
jesse.laufer@oakbaynews.com
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