Shaheed Devji

Three Tips for Managing REALTOR® Risk from Leslie Howatt of E&O

Leslie Howatt from Errors and Omissions Insurance Corporation talking in front of a microphone during the BCREA podcast recording

Whether it’s home insurance for homeowners, life insurance for families, or business insurance for business owners, insurance is a big part of life. Former international soccer star David Beckham reportedly had his legs insured for 195 million dollars. And it makes sense – if you’ve got something you value, you protect it. But Beckham’s protection

Introducing the New BCREA Podcast: Open House by BCREA

Today, BCREA is proud to launch Open House by BCREA, a monthly podcast where REALTORS® in BC will find the latest real estate news and feature conversations with experts on issues related to real estate practice. To help REALTORS® stay up to date, BCREA publishes regular blog posts and economic forecasts and data and offers

Electronic Signatures #450

Legally Speaking

As computer technology plays an increasing role in the real estate industry we are forced, from time to time, to evaluate these technologies in order to ensure they are consistent with the law and responsible practices. Contracts of purchase and sale and other documents used by REALTORS® are already commonly delivered or transmitted by fax

What’s in a Name? Engineering Reports and the PDS #449

Legally Speaking

By Jennifer A. CleeB.A., LL.B. The recent BC Supreme Court decision of Meslin v. Lee1 considers what constitutes an “engineer’s report” for the purpose of disclosure on the Property Disclosure Statement (PDS). The action involved a condominium sale (the property) that failed to complete. On the completion date, the buyers rescinded the Contract of Purchase and Sale

Foreclosure and Residential Tenants #448

Legally Speaking

Licensees often wonder whether during foreclosure proceedings the borrower can rent the property to a residential tenant so the tenancy survives the foreclosure. Generally speaking, the answer in British Columbia is “no”. The recent decision in First National Financial GP Corp. v. Sirotka, illustrates why.1 In 2009, the lender began foreclosure proceedings which the borrowers did

Property Disclosure Statements: Benefit or Burden? #447

Legally Speaking

By Jennifer Clee The real estate industry is in a furor over the recent decision of the Ontario Court of Appeal in Krawchuk v. Scherbak1; both the sellers and the real estate agent were found liable to the buyer despite disclosing past settlement of the home and despite the buyer’s obligation to make enquiries of and

“Limited Dual Agency Or No Agency,” There Is A Different #446

Legally Speaking

A recent case illustrates the pitfalls awaiting brokerages and REALTORS® when choosing to act as a limited dual agent.1 A couple engaged a brokerage and REALTOR® to assist them in the purchase of a house (the Grandview property). The Contract of Purchase and Sale for the Grandview property was subject to the sale of their