Al2-Sunday News, November 23, 1980

Angry homeowners in
North Vancouver's
Hamilton-Fell area who
claim they have been
ripped off by realtors
are being “unjust”
according to the real
estate company in-
volved.

And Howard Dueck,
president of the North Shore
Division of the Greater Van-
couver Real Estate Board,
has strongly protested an
earlier Néws story (Nov. 12)
which, he claims, suggested
that numerous North Shore
realtors were implicated.

“Only one company was
concerned,” said Dueck,
“and it was unfair to the
local real estate industry
generally for a contrary
impression to be created.”

Meanwhile, the busines-
sman who holds the options
on the 19 properties involved
says he intends to go through
with the deals.

Almost two weeks ago,
the owners of these
properties met to protest
that the interim agreements
they had signed last summer
were not letting them get a
fair return on their property.

But Canada Permanent,

which is acting as agent in
the deals “categorically
denies any unethical wrong
conduct altogether.”

In a release from the
company, Hugh Klee, the
district sales manager for the
Lower Mainland said the
Permanent “acted
throughout in a_ proper
manner.”

He said there was “ab-
solutely nothing unusual or
unethical” about the interim
agreements signed with the
homeowners.

Klee said the Permanent
“approached owners in the
area to obtain listings for
sales” and “each property

“Was valued as to what it was

likely to fetch on the market

. based on comparable
properties listed for sale with
the company.”

When the various homes
were listed he said “the
values were raised sub-
stancially to reflect market
conditions.”

When a potential buyer
was located each sale was
negotiated seperately.

“In several cases. the
negotiated prices exceeded
the sales (listed) prices,”
Klee said.

_Interim agreements were

property for a period of time
(up to 9 months) without
actually purchasing it.

Klee said these
agreements “provided for
the transactions to be
completed at a future date
far enough ahead to allow
the purchaser to obtain the
necessary rezoning to justify
the purchase price.”

These clauses which read
that the sales were “subject
to purchaser obtaining a
building permit” were im-
serted Klee said “because
without the rezoning the
values would be con-
siderably less.”

But, although in the
original agreements, these
clauses were removed and
the buyer does not have to
wait for permission to
develop before purchasing.

“It is only because the real
estate market escalated that
the owners who thought they
were making excellent deals
are having second thoughts,”
Klee says.

He said “it is impossible
for anyone, including real
estate people, to predict the
market six weeks in the
future let alone six months.”

at the time the
transactions were made the

that it is “singularly unjust”
for the homeowners to
complain aout the pur-
chaser or the real estate
company involved now that
the transactions are com-
pleted.”

“Everyone who sold a
home in the last year could
now conclude they lost
money,” he said.

But ynfair is just the way

the homeowners do describe
the situation.

They felt there should
have been some sort of
escalation clauses in the
contract or a clause to allow
the homeowner to opt out if

‘the developer is refused ~

council approval for
development plans.

At the public meeting, the
homeowners agreed to form
a committee to initiate legal
action to stop any of the sale
going through.

Mark Decotiis, the man
who holds the options on the
property involved, said he
had “nothing to say” about
the situation.

But he did comment that
he intended “to fulfill my
agreements.”

The Permanent says it was
Only involved in the situation

financing of the project.”

And Paul Murphy, who
coordinated the deals for the
company when he _ was
employed for them, also
feels he is not to blame for
the present situation.

ipoff' claims unjust, realtors answer

Murphy said the ‘subject
to approval to develop,’
clauses were in the contracts
when he made them, and the
subsequent removal of these
clauses changed the whole
situation.

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buyer to hold the option on

owners got what they
wanted,” he said and added

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Council agenda highlight

Agenda highlights for
Monday's meetings of North
Shore councils include the
following items:

government proposal re

Treasurer's report re: 1981
direct resource taxation:

assessment base.

Silver Harbor Centre
peution concerning liquor
hcence for N. Van Rec.

Towing away of cars from
private property:

WEST VANCOUVER Zoning amendment on Centre:
(8 P.M.) Lynn Valley Road Off-street parking,
Burrard Yarrows Cor-
Kleewyck use by com- NORTH VANCOUVER poration,
munity arts council, CITY Delegation for extension
Proposed membershi (7:30 P.M.) of ume re. 145 W 2nd St
system for aquatic centre 3044 Edgemont Boulevard
and ice nnk; 985-0184 North Van
Ambleside pitch and putt :

985-0022

fees,

Gleneagles Golf Course
fees,

Open Tues. -Sat. 9:30 - 5:30

SALE

15 to 40%

Liquor licence amend-
ment for Brunswick lanes,
Development permit Westshore

application re. 1447 Clyde

Aviary
Wild Birdseed

reg. $1 49 $409

NORTH VANCOUVER
DISTRICT

(8 P.M.) 4 lbs.

9 Lives
Cat Food

Pemberton Avenuc Street
End. Jorgen Byss to appear
concerning fishermen’'s
wharf. Posting of unau

thorized street) signs) on Cc
District property. 6% o7 fin 29

Fire department request FF
to sell beer at Rec Centre New!

Ice Rink for muscular

dystrophy campaign.
Proposed rate increases

for business licences,
Consideration of

LONDON
DRUGS

FLYER

CORRECTION
Flyer distributed in the
North Shore News Sunday
November 16
The Canon = AE 1 at

Westshore _
Aviary 5
Deluxe Cockatiel

Mix
99°

1 tb.
Amazon Parrot

Red Lored
+399.

Sale Ends Nov. 29th
Westshore Aviary

PET STORE
#24 Marine Drive, West Van

ALL FLOOR SAMPLES

Sofas ¢ Loveseats © Chairs ¢ Tables
¢ Lamps © Pictures © Accessories

S 25% off
@y Superior Blinds

Venetians * Louvre Drape Verticals
and Window Shades

federal

reg $550

$209 B68 does not include

the case case 13 sold
separately The Fruft’ of the
Loom Designer Kneo Mis
are single patr packs onty

London Drugs apologizes
to tts customers for any
inconvenience this may nave
cauned

922-7738