There have been two incidents this month of homeowners coming back from a trip to find their house has been sold or listed on the market without their consent.
Police say the two unidentified individuals were able to sell the property, and new homeowners took possession of it.
Toronto police said they are now investigating a second, similar incident. This time, police say the house was listed, but the fraudulent owners were not able to complete the sale. Investigators believe both cases are connected.
There are limited details about what happened this time, but Royal LePage agents fell victim to the latest scam.
“This very unfortunate incident was clearly a coordinated scheme aiming to take advantage of real estate professionals and an innocent family,” Anne-Elise Cugliari Allegritti, spokesperson for Royal LePage, told CTV News Toronto in a statement Thursday.
So, what can prospective homebuyers and homeowners do to protect themselves against title fraud?
TITLE FRAUD AND TITLE INSURANCE
The word “title” is used to describe someone’s right of ownership to land. Title fraud is when the tile of someone’s home is stolen.
According to the federal government, the fraudster will either sell the home or re-mortgage the house.
“Title fraud usually starts with identity theft, which can happen if somebody steals your personal information,” the federal government said.
FCT, a residential insurance company, notes it’s up to the true homeowner to prove they’ve been scammed; if they don’t have title insurance, it can take “considerable time, money, and effort” to get everything back.
Title insurance can protect property owners against any losses related to the property. While it is not a requirement to have it in Ontario, Osman Omaid, a realtor with Strata.ca, “strongly” advises getting it.
“I think the best thing people can do is get title insurance,” Omaid told CTV News Toronto Friday. “Real estate professionals [should] always advise to get title insurance.”
Omaid says this kind of insurance can protect homeowners in many ways, not only during fraudulent sales, but also when previous owners haven’t paid off their property taxes, condominium fees, or utility bills prior to the sale.
“Title insurance is basically there to take care of you in any gray-scale areas where it’s sort of like, ‘Okay, I should have done my due diligence, but at the same time, it’s not really my fault that this happened [because] someone should have checked this,’” he said.
WHAT REALTORS AND AGENTS DO TO VERIFY PARTIES IN HOME SALES
Paul Baron, president of the Toronto Regional Real Estate Board (TRREB), told CTV News Toronto real estate brokerages have an obligation to perform their due diligence when taking on clients, as required by the Real Estate and Business Brokers Act, and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
“By law, registrants who trade in real estate are required to use their best efforts to prevent error, misrepresentation, fraud or any unethical practice in respect of a trade in real estate,” Baron said in a written statement.
Real Estate Council of Ontario (RECO) Registrar Joseph Richer told CTV News Toronto in a statement the most common way for agents to verify parties in a sale would be to rely on government-issued photo identification to verify the identity of the person they are dealing with.
“Resources are available to those who trade in real estate to assist with making their best efforts to verify the identity of homeowners, including use of the land registry service to verify the owner of the property and verifying the identities of individuals they are dealing with,” Baron said.
Outside of checking someone’s photo ID during a sale, Omaid says he can verify a seller’s background through a program called GeoWarehouse, which can give him more detailed information about the property in question.
“We are able to see whose name is legally registered under the property,” he said. “There’s a lot of steps we take as realtors to make sure that we are speaking with the correct person.”
In the event that a realtor or agent falls victim to fraud, Baron says it’s up to law enforcement or police to get involved. Baron adds RECO can get involved in cases where due diligence was not performed by agents.
HOW TO PREVENT REAL ESTATE FRAUD
The federal government has a few tips online for what Canadians can do to protect themselves against real estate fraud, including keeping your mortgage information in a safe spot, speaking with your lawyer before giving someone else the right to your home, and researching anyone who tries to offer you a loan.
If you think you have fallen victim to title fraud, the federal government recommends contacting the Canadian Anti-Fraud Centre, reaching out to your provincial land registry’s office, and filing a police report.
– With files from CTV Toronto’s Beth Macdonell and Phil Tsekouras
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.
The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.
The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.
The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.
QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.
Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.
This report by The Canadian Press was first published Sept. 6, 2024.
In the quest to find cities where renters can enjoy the best of all worlds, a recent study analyzed 24 metrics across three key categories—Housing & Economy, Quality of Life, and Community. The study ranked the 100 largest cities in Canada to determine which ones offer the most to their renters.
Here are the top 10 cities that emerged as the best for renters in 2024:
St. John’s, NL
St. John’s, Newfoundland and Labrador, stand out as the top city for renters in Canada for 2024. Known for its vibrant cultural scene, stunning natural beauty, and welcoming community, St. John’s offers an exceptional quality of life. The city boasts affordable housing, a robust economy, and low unemployment rates, making it an attractive option for those seeking a balanced and enriching living experience. Its rich history, picturesque harbour, and dynamic arts scene further enhance its appeal, ensuring that renters can enjoy both comfort and excitement in this charming coastal city.
Sherbrooke, QC
Sherbrooke, Quebec, emerges as a leading city for renters in Canada for 2024, offering a blend of affordability and quality of life. Nestled in the heart of the Eastern Townships, Sherbrooke is known for its picturesque landscapes, vibrant cultural scene, and strong community spirit. The city provides affordable rental options, low living costs, and a thriving local economy, making it an ideal destination for those seeking both comfort and economic stability. With its rich history, numerous parks, and dynamic arts and education sectors, Sherbrooke presents an inviting environment for renters looking for a well-rounded lifestyle.
Québec City, QC
Québec City, the capital of Quebec, stands out as a premier destination for renters in Canada for 2024. Known for its rich history, stunning architecture, and vibrant cultural heritage, this city offers an exceptional quality of life. Renters benefit from affordable housing, excellent public services, and a robust economy. The city’s charming streets, historic sites, and diverse culinary scene provide a unique living experience. With top-notch education institutions, numerous parks, and a strong sense of community, Québec City is an ideal choice for those seeking a dynamic and fulfilling lifestyle.
Trois-Rivières, QC
Trois-Rivières, nestled between Montreal and Quebec City, emerges as a top choice for renters in Canada. This historic city, known for its picturesque riverside views and rich cultural scene, offers an appealing blend of affordability and quality of life. Renters in Trois-Rivières enjoy reasonable housing costs, a low unemployment rate, and a vibrant community atmosphere. The city’s well-preserved historic sites, bustling arts community, and excellent educational institutions make it an attractive destination for those seeking a balanced and enriching lifestyle.
Saguenay, QC
Saguenay, located in the stunning Saguenay–Lac-Saint-Jean region of Quebec, is a prime destination for renters seeking affordable living amidst breathtaking natural beauty. Known for its picturesque fjords and vibrant cultural scene, Saguenay offers residents a high quality of life with lower housing costs compared to major urban centers. The city boasts a strong sense of community, excellent recreational opportunities, and a growing economy. For those looking to combine affordability with a rich cultural and natural environment, Saguenay stands out as an ideal choice.
Granby, QC
Granby, nestled in the heart of Quebec’s Eastern Townships, offers renters a delightful blend of small-town charm and ample opportunities. Known for its beautiful parks, vibrant cultural scene, and family-friendly environment, Granby provides an exceptional quality of life. The city’s affordable housing market and strong sense of community make it an attractive option for those seeking a peaceful yet dynamic place to live. With its renowned zoo, bustling downtown, and numerous outdoor activities, Granby is a hidden gem that caters to a diverse range of lifestyles.
Fredericton, NB
Fredericton, the capital city of New Brunswick, offers renters a harmonious blend of historical charm and modern amenities. Known for its vibrant arts scene, beautiful riverfront, and welcoming community, Fredericton provides an excellent quality of life. The city boasts affordable housing options, scenic parks, and a strong educational presence with institutions like the University of New Brunswick. Its rich cultural heritage, coupled with a thriving local economy, makes Fredericton an attractive destination for those seeking a balanced and fulfilling lifestyle.
Saint John, NB
Saint John, New Brunswick’s largest city, is a coastal gem known for its stunning waterfront and rich heritage. Nestled on the Bay of Fundy, it offers renters an affordable cost of living with a unique blend of historic architecture and modern conveniences. The city’s vibrant uptown area is bustling with shops, restaurants, and cultural attractions, while its scenic parks and outdoor spaces provide ample opportunities for recreation. Saint John’s strong sense of community and economic growth make it an inviting place for those looking to enjoy both urban and natural beauty.
Saint-Hyacinthe, QC
Saint-Hyacinthe, located in the Montérégie region of Quebec, is a vibrant city known for its strong agricultural roots and innovative spirit. Often referred to as the “Agricultural Technopolis,” it is home to numerous research centers and educational institutions. Renters in Saint-Hyacinthe benefit from a high quality of life with access to excellent local amenities, including parks, cultural events, and a thriving local food scene. The city’s affordable housing and close-knit community atmosphere make it an attractive option for those seeking a balanced and enriching lifestyle.
Lévis, QC
Lévis, located on the southern shore of the St. Lawrence River across from Quebec City, offers a unique blend of historical charm and modern conveniences. Known for its picturesque views and well-preserved heritage sites, Lévis is a city where history meets contemporary living. Residents enjoy a high quality of life with excellent public services, green spaces, and cultural activities. The city’s affordable housing options and strong sense of community make it a desirable place for renters looking for both tranquility and easy access to urban amenities.
This category looked at factors such as average rent, housing costs, rental availability, and unemployment rates. Québec stood out with 10 cities ranking at the top, demonstrating strong economic stability and affordable housing options, which are critical for renters looking for cost-effective living conditions.
Québec again led the pack in this category, with five cities in the top 10. Ontario followed closely with three cities. British Columbia excelled in walkability, with four cities achieving the highest walk scores, while Caledon topped the list for its extensive green spaces. These factors contribute significantly to the overall quality of life, making these cities attractive for renters.
Victoria, BC, emerged as the leader in this category due to its rich array of restaurants, museums, and educational institutions, offering a vibrant community life. St. John’s, NL, and Vancouver, BC, also ranked highly. Québec City, QC, and Lévis, QC, scored the highest in life satisfaction, reflecting a strong sense of community and well-being. Additionally, Saskatoon, SK, and Oshawa, ON, were noted for having residents with lower stress levels.
For a comprehensive view of the rankings and detailed interactive visuals, you can visit the full study by Point2Homes.
While no city can provide a perfect living experience for every renter, the cities highlighted in this study come remarkably close by excelling in key areas such as housing affordability, quality of life, and community engagement. These findings offer valuable insights for renters seeking the best places to live in Canada in 2024.
