I think given how many times this guy ignored the city and thumbed his nose at them the city should send in a contractor to do all the work, put it back the way it was and send this guy a bill. If he doesn't pay it start proceedings to take his property.

This guy is a poster child for the people out there that think the bylaws and building codes don't apply to them, fuck this guy.

Yeah, skipping a permit to install a power receptacle, replace a hard wired dishwasher, or maybe even ohh wire a garage is one thing...

But someone who thinks they're going to get away with chopping trees, moving earth, pouring concrete, putting up big structure without being noticed, is pretty dumb.

If prices held steady, the real price has dropped vs nominal price.

Aka, 2BR's that were selling at $850K in 2020 is not equal to $850K in 2022 due to inflation.

$850K in 2022 dollars is equivalent to $760K in 2020. So you're getting a discount of approx. $90K.

https://gyazo.com/2e51d531868fc9dad224473423f2eece
https://gyazo.com/2e51d531868fc9dad224473423f2eece

i imagine any property in the lower mainland isn't cheap, including that area of surrey.

seems incredibly risky & wreckless to do this on a huge investment to know apply for permits and do this proper, what a financial clusterfuck hes' in now.

Watch him dump the property quickly for a small loss, dip the country, and then the new owner is responsible.
Then it goes even deeper into the rabbit hole and nothing is ever done about it with legal issues that last 3-5-10 years.

I see these strata legal battles that last years, fines are issued, etc, but noone actually enforces them

lol fucking guy probably thought he was in India still. Probably thought he could grease the palms of the inspectors and courts to get his way.

"He spoke with Mr. Singh and reminded him that he was not allowed to do any work," Gomery wrote in the decision.

"Mr. Singh said that he would not. Later that day Mr. Lalari (a city official) attended and saw that concrete was being poured and spread by workers. Mr. Singh was present. Mr. MacLeod (the first official) arrived and saw that fresh concrete had been poured since his attendance that morning."

Singh was arrested for breaching the court order. His wife and child were also in the house and were escorted from the property, according to Gomery's decision."

This was hilarious to read

Lol, got back to work the same day.

I remember when I was a kid my dad wanted to enclose our carport (which was under the 2nd floor deck) into a garage. He got as far as framing it all in, and putting siding on when he started hanging the door city of Richmond came by one day and stuck a stop work notice to the wall (probably because of a snitchy nosey neighbour).

So my dad just left it for about 5 years, and then one day when he figured it was all forgotten about, just hung the door and that was it. Decades later, never heard a peep.

i can picture what the inspector was told :troll:


:ilied:

It looks like the guy bought the property for 1.4m back in Jul 2021. Along with the 100k fines, and other costs like demo and rebuild, makes it look like he's gonna take a bath on this for sure.

No way, that 1 year had sizzling 20% returns

1.4mil x20%= 1.68mil, bump it to 1.78 or 1.88 with the "renovation"
Take off 0.1 for fines he's never gonna pay, another 0.1 to swindle the buyer, another 0.1 for current interest rate "losses", another 0.1 to revert property back to normal

Unless the banks and courts put on a stop sell order, he might even break even

I'm just talking out of my ass, someone please quote this 5 years from now when it's all settled, and someone posts a theonion or dailyhive article on it

Coquitlam Around me detached homes are listed about 100k less. Sale price is about 2–300k less than listed.

This story reminds me of this clown:

https://www.nsnews.com/local-news/il...awsuit-3149078

https://www.nsnews.com/local-news/di...-homes-4989900

https://www.ctvnews.ca/canada/vancou...home-1.3653573

Over the last 6 or so years, this guy has been doing unpermitted work all over west van.

That house 733 20th Street is infamous. It was actually for sale during the pandemic, the listing was ludicrous. Called it a $4M house for sale for only $2M or something. With no mention that it literally can't be lived in and the future owner will likely have to tear it down.

Amazes me people think they will get away with stuff like this.

This is a good summary of the mis-deeds:

Agreed, I put two offers on two different Richmond houses recently and both were outbidded. Both had 10+ offers, most of them were cash offers and way over asking and assessment.

The third one I wrote was 100k more than the asking, and also competing with couple other offers. The owner ended up pulling out the listing and not selling at all.

LOL where is the market correction?

He's just like the crazy lady in North Van who insisted on using her townhome as an AirBnB rooming house and the strata had to fight her for years in court. She kept returning to the property and eventually was arrested for contempt of court. Judge imposed a court-ordered sale of her townhome, which is pretty much unheard of. Judge is likely going to send her to jail in October. I think the sad part is she has mental health challenges, but also she refused to undergo any psych evaluation.

https://www.nsnews.com/local-news/ju...ily-yu-5732282

I noticed this too, perhaps there are some areas that are still more lucrative than others. Ive been looking for a 1 bed invest property and I've been outbid by others. To be fair, by no means am I low balling but at the same time I'm not gonna offer the ridiculous over asking.

where are you looking and how much are you putting down?

I always figured BC isn't a good place for investment properties unless you're banking on appreciation. Because any property you buy right now, you'll like be cash flow negative by hundreds if not thousands of dollars.

The market has been tightening but if you are looking for something we should see a big uptick in listings in September. After that, listings will fall off once again until Spring 2023. It's a seasonal thing.

In terms of a price correction, prices have currently bottomed out @ 10% off peak prices in Coquitlam and the remaining sellers are not in a panic to sell. But prices are down 10% because buyers can borrow less. Is that really a correction when affordability hasn't improved? House horniess seems as strong as ever.

Real estate is probably the last thing someone is willing to sell at a lost. They will sell their cars before that happens.

Also no one who bought recently is struggling at 4 - 5% rates where they need to sell. They can cut back on expenses to keep their home. There's major sentiment when people list 10% below the peak. Despite still up 10-15% since 2020

Were the properties you guys were trying to bid on severely underlisted in the first place?

After talking with a few financial advisors after my TH sale, there are lots of people with seven figure sums in HISA's waiting on the sidelines to get back into the market after selling at the peak

The under listed new and shiny will of course draw the most attention and bids, etc.

Guess its only a matter of time till I panic and get back into the market buying another crack shack dump in Coquitlam and reno it surrey style :lol

This is Vancouver in a nutshell lol. Everyone knows friends/family just waiting for the market to bottom out to accumulate more RE (unless we all know the same people lol). When the market turns around it will turn really fast - within months.

I don't know anyone with a 7 figure bank account. Even most people older than me, don't have 100k in there

Cue everyone on here is a baller, or knows ballers obvs

I can share my own experience, these information are publicly available. The two I got outbid:
4505 Fisher Court, Richmond, 1.69 asking/1.65 assessment, 1.90 sold (no subject, I offered 1.8)

4320 Shackleton Gate, Richmond, 1.58 asking/1.47 assessment, my 1.71 offer got rejected Monday, don't know the selling price yet.

:heckno:

Only guy I know, never bought a house. Lol

Shackleton Gate. 39 parties. 14 offers. Accepted offer only has inspection on it