AFTER their mother died, two Vancouver sisters, Marilyn Cox and Laura Bourne, were responsible for settling her estate which included six neighbour- ing 10-acre lots on Bridge Lake in the Williams Lake area, plus another 100-acre lot. In the spring of 1995, they asked Lyle Martin, a real estate agent, to value the 10- acre parcels, “Once estal- lished Ewould like vou to lise the six 10-acre parcels for sale,” wrote: Mrs. Cox. “At the moment we are holding onto the 100-aere parcel to a later date.” Mr. Martin replied: “In regard to the above properties (Lots I and 2 only), it is my opinion, based on sales of similar properties, thar the market value as of February 1994 was $35,000 cach.” He then listed the lots for sale at $35,000. The listings attracted a lor of attention as most 10-aere parcels in the area were selling for around $40,000 at the time. In fact, another realtor, Gordon Marshall, called Mr. Martin's office and suggested the property was listed well below market value. Another agent in Mr. Martin's office soon present- ed an offer for the full price, whick Mrs. Cox and her sister accepted. But immediatels after, they became concerned the price was too low and asked Mi. Masun to hold off on the remaining listings until they could get a full appraisal. Six weeks later, the pur- chaser of Lot 2 dipped it tor $65,000 to a German aation- al buying up all the land sur- rounding the lake. He also later bought Lots 1 and 3 trom the nwo sisters for $45,000 each. “We were really angry,” says Mrs. Cox. “Not knowing the area at all, we relied on our reakor totally and were misled.” The realtor's assess- ment was also based on intor- mation a vear old. The unhappy sisters sted Mr. Martin in Smail Claims Court and wen the maximum $10,000 allowed. But Mr. Martin's insurers, who were defending the case, appealed and the case was retried in the B.C. Supreme Court. Ar trial, the judge con- cluded that Mr. Martin hadn't done a proper valuation, “If he had, he would have discovered the presenee of the German national who had bought the lot to the north and concluded rat he might have had an interest in acquir- ing control of the remaining lots }, 2 or 3 to the south. Certainly, this was informa- tien available to anyone, not just the purchaser who bought trom the plaintitts and then ‘tlipped” the lot to the German fand owner. “The defendant had a duty to the plaintiffs to provide a proper valuation and to give - che guidance they asked for and needed in order to list the lots for sale. He was in breach of that duty.” Previously, virtually no case in B.C. had examined the duty ofa realtor asked to pro- Daffodils, Tulips ond liyecintis West Kelth Road ‘at Chesterfield Ave. Sat. june 19, 1999 {0AM TO 2PM (RAINOR SHttNE) side an appraisal. real estate agents on their tees,” says Mrs. Cov. “They should dea tittle research be fore saving their opinions.” =< This column bas been “Tthink this case will put not for what manufacturers choose to give you You will have compiete freedom to order. only“ x “those components that.vall give you peak PROTEVA 350 MHz COMPUTER SYSTEM Vane S008 Re ty! anon 230. bit colour technology Parallel port interface s . 384662 Price After Rebate SF6700SYPL ORGANIZE R 2738 x 64 backlit display e colon / Our Price 89.99 isploy “Telephon , Price Mier R recto schedule/ memo 44799 = SOFT-SIDED PORTFOLIO EXECUTIVE LEATHER TILTER eTwin handles, adjustable eleather seating surface/inner ck pau tension qdustment, nons! Ider strap ni tt lock, pneumatic height *Top-zip rear - justment compartment : 2 9 i Black ae ‘STORE HOURS. ‘MON-FRI 8AM SATURDAY.9AM-6PM/SUNDAY TAM-SPM' i STAPLES” Staples in 0 segittared trade werk of Staples, Inc., uead unde’ licence: Wednesday. June 16, 1999 - North Shore News — 37 altor $10,000 Wes Esplanade, 988-5201. The colin provides information only and must not be relied on for legal advice. writen with the assistance of Daryl Collier af the North Vancouver law firn of Ratcliff c* Company, Sutte 500, 221 LEASE FROM $32/MO OAC-36-month || term, taxes.extra Per second billing No activation fee 100 minutes far mont eNot available at all locations 45126 #No activation fee Free Voice Mail Not available at all locatiens CROSS” 23K GOLD-PLATED BALL POINT PEN #Classic slim-diameter sign olifetime 99 warranty 13744 :