Botched home sale costs Winnipeg man his right to sell real estate in Manitoba

Botched home sale costs Winnipeg man his right to sell real estate in Manitoba

A Winnipeg man’s registration as a real estate salesman has been cancelled after a family vacated their home on a tight deadline for a sale that never went through, then changed brokerages and, months later, got $60,000 less for their house than what they expected when they moved out.

A Manitoba Securities Commission panel found Reginald Wayne Kehler engaged in professional misconduct and conduct unbecoming a registrant when he signed a document on behalf of sellers without their knowledge, reduced the listing price of a home without their approval, and didn’t tell them for nearly a month that a potential buyer hadn’t paid a promised $100,000 deposit.

The sellers, identified as D.R. and P.R. in the panel decision released Wednesday, were awarded $10,394 from the real estate reimbursement fund. Kehler was ordered to pay $12,075 to cover costs of the investigation and hearing.

The sellers were a military family

Drinking someone else’s milk straight from the jug costs B.C. real estate agent $20,000

Drinking someone else’s milk straight from the jug costs B.C. real estate agent $20,000

A British Columbia real estate agent has been fined $20,000 after being caught on camera drinking milk straight out of the jug at a home he was showing.

A consent order released by the B.C. Financial Services Authority last week said Mike Rose was alone in the home in Kamloops, B.C., in July last year as he waited for his clients, who were interested in buying the property.

Rose went to the refrigerator to find water, according to the consent order, but instead swigged some milk straight from the container, which he then put back in the refrigerator.

The consent order, agreed by both the superintendent of real estate and Rose, said the owners of the home saw him drinking the milk when they reviewed footage from a surveillance camera, then confronted him about it two days later.

Rose, who apologized for his actions, was told he wasn’t welcome in

Real estate: Comparing house and condo costs in Canada

Real estate: Comparing house and condo costs in Canada

As the average price of a home in Canada rises year-over-year, a new study is highlighting the growing gap between the cost of condominiums and houses in major Canadian cities.

Conducted by Point2 Homes and published earlier this month, the study shows that house prices are more than double the cost of condominiums in 14 Canadian cities, most of which are in Ontario and British Columbia. The data is based on MLS benchmark prices determined by the Canadian Real Estate Association (CREA) and realtor associations in each local market as of May 2023. Benchmark prices are assigned based on property types rather than square footage.

According to Point2 Homes, the study’s results paint “a bleak picture” for those looking to upsize from condos to houses, particularly in major real estate markets such as the Greater Toronto and Vancouver areas.

In Vancouver, for example, houses are approximately $1.2 million more

Exorbitant building costs, and should parents charge their kids for rent? Canadian real estate news for July 1

Exorbitant building costs, and should parents charge their kids for rent? Canadian real estate news for July 1
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This week in real estate, how much should parents charge their adult kids for rent?houssmax.ca

Here are The Globe and Mail’s top housing and real estate stories this week, with the lowest mortgage rates available in Canada today, commentary from our mortgage expert and one home worth a look.

The struggle of exorbitant building costs

Construction costs for residential real estate across much the country are exacerbating Canada’s housing affordability crisis, reports Erica Alini. In 11 major Canadian cities, the cost of building homes and apartment complexes was up 54 per cent in the first three months of 2023 compared to 2019, StatsCan data shows. Labour shortages, the high cost of materials, and rising interest rates all contribute to high financing costs for developers.

Should parents ask their adult kids to pay rent?

With housing and rental costs on the rise, as well as

Miami Beach condo owners face big costs imposed by investors

Miami Beach condo owners face big costs imposed by investors

Daniel Fiorda moved out of his 800-square-foot condo in Miami Beach last month, more than two decades after he bought it.

He didn’t want to leave his canal-front slice of paradise. But after a real estate firm purchased six of his building’s 10 units, took control of the board and increased maintenance fees by more than four times — a jump for Fiorda from about $550 to $2,280 a month — he and his wife, Laura Ines Cobos, were in a bind.

Fiorda, an artist and musician from Argentina, began taking odd jobs to try to keep up. But ultimately, the couple moved into a rental in Biscayne Park and found a tenant to live in their Miami Beach home. The tenant is now paying $2,100 a month — still less than the cost of their condo fees, which are on top of mortgage payments.

“They want us to be