Saturday, September 20, 2014

Maria Mak.Burnaby Realtor-B.C. to tighten standards for home inspectors


VANCOUVER — By the end of next year, home inspectors will have to meet a standard set of professional criteria to be licensed in British Columbia.

Housing Minister Rich Coleman said Friday the improved requirements will help safeguard home buyers who rely on the inspections for making what is likely the largest investment of their lives.

Consumer Protection B.C. will set the education and training requirements and be responsible for testing and licensing home inspectors.

“At the end of the day, buying a home is one of the biggest purchases somebody ever makes, and we’ve always been very supportive of any move toward consumer protection in this area,” said Tayt Winnitoy, vice-president of operations for Consumer Protection B.C.

In 2009, B.C. became the first jurisdiction in Canada to require licences and insurance for home inspectors, and there are now about 440 licensed in the province.

A few months later, a North Vancouver couple won an unprecedented award in the civil lawsuit they brought against their home inspector.

Three years earlier, Manuel Salgado and Nora Calcaneo bought a home for $1.095 million.

They paid $450 for an inspection, which found a number of structural deficiencies. The inspector, Imre Toth, estimated the repairs would cost them $15,000 to $20,000.

They closed the deal.

When the bill came in, it totalled $213,000.

They filed suit against Toth, the sellers and the real estate agents, but settled with the previous owners and dropped their claim against the agents.

Justice Grant Burnyeat said Toth’s estimate was “woefully inadequate.”

The purpose of the inspection is to provide a homebuyer with expert advice about any significant deficiencies, the judge wrote.

“I have no hesitation in coming to the conclusion that the plaintiffs relied upon the report received by Mr. Toth to decide whether they would purchase the property,” he wrote.

“Plainly, if prospective home purchasers did not believe that they could secure meaningful and reliable advice about the home they were considering purchasing, there would be no reason for them to retain an inspector to inspect that home.”

Currently, inspectors must pass regular examinations to obtain and keep their licence but there are four different associations that can licence, each with its own evaluation process.

In a survey by the provincial Office of Housing and Construction Standards, 78 per cent of home inspectors felt the requirements for a licence are too lax.

“It is clear ... that action is needed to increase consumer protection and to address the challenges in the current model,” the report said.

The Canadian Association of Home and Property Inspectors — one of the four groups that license inspectors — said non-existent standards improved with the 2009 regulations, but loopholes remain.

Winnitoy said home buyers can rest assured that the inspectors they’re dealing with now have met minimum training and education requirements.

“What we see now and what we’re looking forward to is a deepening and an improving of the framework to help ensure that there’s a level playing field for all home inspectors and a clear set of expectations for consumers to have.”

© Copyright (c) CP

Saturday, September 13, 2014

Maria Mak. Burnaby Realtor - Serving her clients in Greater Vancouverand Burnaby for over 25 years with a big heart, with a big smile.

Maria Mak. Burnaby Realtor - 
Serving her clients in Greater Vancouver and Burnaby 
for over 25 years with a big heart, with a big smile. 

Contact Maria and her elite team for all your premium real estate services, you'll be smiling too.


www.mariamak.com

 




Friday, September 12, 2014

Maria Mak. Burnaby Real Estate Agent - How to avoid real estate investment scams

The global slowdown has shaken everyone’s investment portfolio in one way or another, while real estate values in most geographical areas continues to rise. No doubt many investors are asking themselves if they should be putting more of their money into real estate.
Real estate is one of the biggest investments people make. Unfortunately, criminals and con artists go where the money is – which means real estate and mortgage fraud. While there is no centralized database that tracks figures, most experts agree that real estate fraud is on the rise.

Common Scams

Title fraud is one of the most devastating types of scam. Imagine coming home to find your house has vanished into thin air. In some ways, this is what happens with title fraud, in which a criminal assumes your identity and uses forged documents to sell your house or get a new mortgage. This kind of fraud is often perpetrated against houses that are mortgage free – which means it often targets seniors. Scammers can also use personal information to impersonate you when applying for a loan or mortgage, leaving you – the unsuspecting victim – on the hook for the loan.
Foreclosure rescue and home equity fraud preys on those struggling with their mortgage payments. The homeowner pays up-front fees and transfers the property title to a new lender in exchange for a consolidation loan and/or lower monthly payments. The scammer then has the victim’s monthly payments and the option to sell or remortgage the house without the victim knowing.
Of course, owning a home is the way most investors will get into the real estate market, but those wanting more might look at real estate syndicates, in which a pool of investors become limited partners in a real estate project, and are part-owners of the assets. The general partner or syndicator manages the assets and investment on their behalf.
Sounds easy, right? Yet last year in Ontario, a well-known real estate syndicate collapsed into bankruptcy, and in April of this year, a real estate financier from Chilliwack faced the B.C. Securities Commission, accused of fraud and misleading investors through millions of dollars raised for Falls Capital Corp. and Deercrest Construction Fund. The allegations have not been proved in court and no charges have been laid, but these examples should serve as cautionary tales.

Tips for protecting yourself

  • First and foremost, make sure you are following best practices in protecting your personal information. Protect your SIN, shred documents before recycling and put a lock on your mailbox. Don’t give personal information over the phone unless you initiated the call. Learn how to protect yourself from phishing, update security software regularly and change your passwords on a regular basis.
  • Be skeptical in all transactions – scammers are successful because they engender trust. Rely on your own team of experts to verify the fine print. Know and understand what you are signing. Ask questions. Never sign incomplete documents.
  • When money changes hands, ensure the funds are held in trust until the paperwork clears.
  • Do some basic research on the property. A land title search can show you the name of the owner, mortgages and liens, and a record of previous transactions.
  • Regularly check your credit report to make sure there are no surprises. Consult the provincial land registry office to make sure your house is in your own name.
  • Consider purchasing title insurance to protect against title fraud.
Remember the golden rule of investing – if it sounds too good to be true, it probably is, and there’s no such thing as a guaranteed return. Don’t be swayed by fancy marketing. Do your research, get professional third-party advice, and you may well reap the rewards.

Thursday, September 11, 2014

Maria Mak. Burnaby Realtor - Pottery by Maria Mak. Burnaby Real Estate Agent


Maria Mak. Burnaby Realtor - 
Serving her clients in Greater Vancouver and Burnaby 
for over 25 years with a big heart, with a big smile. 

Contact Maria and her elite team for all your premium real estate services, you'll be smiling too.


 

Pottery by Maria Mak. Burnaby Real Estate Agent

 


Maria Mak. Burnaby Real Estate Agent - Old dog, new trick

Old dog,
New trick,
Nasty as it can be.

藝術家問你怕未!
 
Drawing by Maria Mak. Burnaby Real Estate Agent
www.mariamak.com


Sunday, September 7, 2014

Maria Mak. Burnaby Realtor - Women and Men

Women come from the Earth
Men come from the Mars 
Different wavelength 
Congested bandwidth 
Water and oil
Never mix
Somehow coexist for the sake of existentialism.


Drawing by Maria Mak.Burnaby real estate agent


www.mariamak.com





Maria Mak. Burnaby Realtor - I write- I draw- I compose music


當靈感感動靈魂,便有佳作


I write -I draw - I compose music 

when time and mind is in tune.

Saturday, September 6, 2014

Maria Mak. Burnaby Realtor - The beauty of Poetry

The beauty of Poetry...

is in the power of illusive interpretation and the openness of both the communicators , the readers and the writers.


Drawing by Maria Mak. Burnaby Realtor


www.mariamak.com

Friday, September 5, 2014

Wednesday, September 3, 2014

Maria Mak. Burnaby Realtor - Next round

The steep curved embankment,
Slippery by the curse of the Indian spirits.
Her stuffy heart,
The disturbed cobwebs,
The weedy paths,
Blurring her thoughts.
Buzzing down her throat,
Is the beautiful queen bee,
awaited patiently to rise again in the next round.





Drawing and written by 
Maria Mak BurnabyRealtor

www.mariamak.com

Monday, September 1, 2014

Maria Mak. Burnaby Realtor - Leaking Heart

Leaking Heart...

Too flat to be full,

Too fragile to be fussed.  

Let it be punctured and put it to sleep.


 


 


Photography by

Maria Mak. Burnaby Realtor


 


www.mariamak.com 

 


Maria Mak. Burnaby Realtor - @ Stilt Houses in Steveston, Richmond

P

Loitering @ Stilt Houses in Steveston, Richmond 






Mari Mak. Burnaby Realtor - Serving her clients in Metro Vancouver and Burnaby for over 25 years


Maria Mak- Burnaby Real Estate Agent - Serving her clients in Metro Vancouver and Burnaby for over 25 years with a big heart and with a big smile.

Thinking of buying and selling real estate, contact Maria Mak and her elite team...Thank You.

www.mariamak.com