Realtor blames typo for 6x attempted flip, claims markup is only 100%

By ThinkPol Staff

On Sunday, ThinkPol published a story[1]Flipper attempts nearly 5x profit within a year on Coquitlam property https://thinkpol.ca/2017/12/03/flipper-attempts-nearly-6x-profit-within-a-year-on-coquitlam-property/ about how a real estate speculator is apparently attempting to sell for $15 million a Coquitlam property they bought for $2.6 million less than a year ago.

Now, the realtor listing the property is blaming a typographical mistake on his part for the apparently astronomical markup of the attempted flip, and claims that the owners are only seeking to make a 100% profit.

“Your information is inaccurate and definetly[sic] misleading,” Bill Laidler of RE/MAX Sabre Realty Group emailed ThinkPol. “The properties were purchased for $7,100,000 in 2016. You listed the price for 1 of the 3 acres. The site is for sale all 3 acres.”

“Please remove this article,” Laidler demanded. “It has been forward the the owners lawyers.”

After ThinkPol pointed out that his MLS listing describes[2]http://archive.is/dGzy0 the sale as “1 acre property part of 3 acre assembly,” Laidler accepted that the mistake was on his part.

“They were listed separately before and real estate board made them into one listing as to be sold as package,” the realtor explained.

The City of Coquitlam has rezoned the three lots from RS-2 to RS-7 and RS-8 increasing density seven-fold to allow 21 dwelling units[3]http://www.coquitlam.ca/docs/default-source/council-agenda-documents/regularcouncil_2017_03_06_-_item_14.pdf?sfvrsn=2.

This is not the only property that Laidler is marketing with a massive markup to reap the rezoning windfall.

Laidler has listed the property on the 1300 block of Glenbrook Street, Coquitlam, for $3,600,000[4]https://www.rew.ca/properties/R2223263/1385-glenbrook-street-coquitlam-bc. The sellers bought it for $1,880,000 two years ago[5]https://www.bcassessment.ca/Property/Info/RDAwMDBEM1dIWQ==.

“Tons of potential for this lovely estate property,” the MLS listing description reads. “Can subdivided now into two RS11 lots or with an OCP amendment the possibility of 4 RS8 lots & 1 RS11 lot.”

References   [ + ]

1. Flipper attempts nearly 5x profit within a year on Coquitlam property https://thinkpol.ca/2017/12/03/flipper-attempts-nearly-6x-profit-within-a-year-on-coquitlam-property/
2. http://archive.is/dGzy0
3. http://www.coquitlam.ca/docs/default-source/council-agenda-documents/regularcouncil_2017_03_06_-_item_14.pdf?sfvrsn=2
4. https://www.rew.ca/properties/R2223263/1385-glenbrook-street-coquitlam-bc
5. https://www.bcassessment.ca/Property/Info/RDAwMDBEM1dIWQ==

2 Responses to Realtor blames typo for 6x attempted flip, claims markup is only 100%

  1. nonconfidencevote says:

    Gee whiz.
    A realtor that cant spell. Q’uelle Surprise’
    A reator that threatens a lawsuit to silence a critic.

    Yo! Bill!
    What was your commish on that sale?
    200k? 300k ?

    Whatcha think about that Court ruling last week?
    You know.
    The one that quashes the Real Estate Organizations monoply on sales info?

    seen http://www.Viewpoint.ca yet?

    Coming to a BC Locality near YOU!

    Then no one will need realtors because all the pertinant sales info will be available FREE on the internet

    Bwahahahahahahahahahahahahaha

  2. nonconfidencevote says:

    Dec 1st Toronto Real Estate Board (TREB) LOSES its Court case to continue its monopoly of Housing sales stats and now l weeks later we have

    House Sigma

    A new website in Ontario allowing potential buyers to actually see whats going on in the real estate market…..

    While TREB and CREA attempt to appeal their case all the way to the Supreme Court of Canada………

    Good luck with that.
    Time to return the keys on that Audi Lease
    Cancel the Cabo vacation.
    Enjoy the unemployment line Real Estate Sale Commission hucksters

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