R
RussellWestcott
Guest
Guest
The yellow letter has got the attention of the homeowners who have received the letters ... now they have gotten the attention of the Provincial Government and Global TV Calgary
Government of Alberta-- Information bulletin-- click here
Interesting to note that the people who issued this bulletin never talked to any one ... and talk about some misinformation
Especially the part about
"When contacted, the authors of the letter seek to buy the homes at or near market value with a long closing date of six months or more. The buyers may intend to use that as a hedge that housing prices will increase before the closing date so they can immediately resell the home at a profit. While the practice is not illegal, there is concern the buyers could break the contract if prices do not increase, leaving homeowners in a bind and potentially on the hook for costly litigation if they try to seek damages."
Global TV Calgary is running a 2 part segment on the yellow letters (must be a slow news day in Calgary
)
Watch this video
Click here for part 1
Stay tuned to tonight’s Global Calgary part 2 of this report... where a REIN™ member, using the yellow letter and myself were interviewed to tell the other side of the story.
See you all in Calgary this weekend at the Business Management Bootcamp.
Government of Alberta-- Information bulletin-- click here
Interesting to note that the people who issued this bulletin never talked to any one ... and talk about some misinformation
Especially the part about
"When contacted, the authors of the letter seek to buy the homes at or near market value with a long closing date of six months or more. The buyers may intend to use that as a hedge that housing prices will increase before the closing date so they can immediately resell the home at a profit. While the practice is not illegal, there is concern the buyers could break the contract if prices do not increase, leaving homeowners in a bind and potentially on the hook for costly litigation if they try to seek damages."
Global TV Calgary is running a 2 part segment on the yellow letters (must be a slow news day in Calgary
Watch this video
Click here for part 1
Stay tuned to tonight’s Global Calgary part 2 of this report... where a REIN™ member, using the yellow letter and myself were interviewed to tell the other side of the story.
See you all in Calgary this weekend at the Business Management Bootcamp.
