Things can go drastically wrong when real estate agents don’t do their homework.

February 18, 2014 in Latest Community News Blog, Real Estate Blog

This is a prime example of a real estate agent not doing his homework and almost costing the seller, who in this case is the city of Toronto, a lot of money in a lawsuit. This prime ravine Toronto Community Housing Corporation property on Balsam Avenue in the Beach was put on the market earlier this month.  In the comments on the listing, which would also be on public websites such as Realtor.ca, the agent said: “Best For Investors, Renovators, And Builders. Excellent Lot To Build A Big House”.  The problem is, the ravine lot is actually city owned parkland and building a “big house” is not permitted.

Three potential buyers put in offers on the property but the sale was halted, when TCHC was made aware of the error by, it looks like, journalist Sue Pigg of the Toronto Star, who was writing the article. The property has now been taken off the market.

It’s nice to see that at least one agent, Jillinda Greene, who I’ve known for some 25 years, did her due diligence before submitting an offer and spared her clients the agony of having to go through the process and disappointment.

Here’s Sue’s article that appeared in the Toronto Star:

http://www.thestar.com/business/2014/02/14/tchc_halts_sale_of_beach_cottage_listed_at_1375m.html

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