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Consent Order
- Licensee
- Li Xu, Li Xu
- Brokerage at Time of Sanctioned Activity
- Current Brokerage
- Local Venture Corp., Vancouver
- Consent Order Date
- 21 January 2020
Summary
A discipline committee of the Real Estate Council of British Columbia (the "Council") accepted the Consent Order Proposal submitted by Li Xu and found that Ms. Xu committed professional misconduct when she failed to:
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advise the complainants to obtain independent professional advice on matters outside of her expertise including:
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prior to preparing a subject-free offer to purchase the property;
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regarding the risks associated with making a subject-free offer without being provided with a completed Property Disclosure Statement;
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upon receipt of a completed Property Disclosure Statement that disclosed that the property was not in compliance with applicable city zoning and building bylaws; and
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upon receipt of an email indicating that the permit for a rear deck addition would not be obtained by the completion date; and
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make reasonable efforts to discover relevant facts respecting the property.
Results
A discipline committee of the Council has ordered, and Ms. Xu has agreed to, the following penalties:
- a suspension of 14 days, from March 11, 2020 to March 24, 2020 inclusive;
- a discipline penalty of $2,500;
- enforcement expenses of $1,500; and
- successful completion of the Real Estate Trading Services Remedial Education Course.