Printed . This content is updated regularly, please refer back to https://bcfsa.ca to ensure that you are relying on the most up-to-date resources.
Consent Order
- Licensee
- Guang Hui (Kevin) Lu, Guang Hui (Kevin) Lu
- Brokerage at Time of Sanctioned Activity
- Royal Pacific Realty Corp.
- Current Brokerage
- Royal Pacific Realty Corp., Vancouver
- Consent Order Date
- 24 May 2018
Summary
Guang Hui (Kevin) Lu acted as a buyer's agent in the purchase of a residential property. Mr. Lu did not properly draft a 'subject to inspection' condition reflecting:
- that the property would be inspected by a professional home inspector, and that the buyer would be satisfied with that inspection;
- the date and time by which the subject had to be removed; and
- that the condition was for the benefit of the buyer.
Mr. Lu failed to promptly deliver the buyer's deposit to Metro Edge Realty on the date he received the deposit, or alternatively, on the first business day following his receipt of the deposit. Instead, he delivered the deposit to Metro Edge Realty six weeks after he had received it.
Mr. Lu delivered the contract of purchase and sale and other transaction documents to his managing broker two months after the buyer removed the 'subject to inspection' condition.