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Province issues warning about real-estate scheme

Calgarians are being warned not to let real estate investors take advantage of them after handwritten letters offering to buy one’s house started showing up in people’s mail.

Calgarians are being warned not to let real estate investors take advantage of them after handwritten letters offering to buy one’s house started showing up in people’s mail.

The notes are not always in the same handwriting, but the message always reads “my (spouse) and I would like to $buy$ your house at (address).”

“There’s nothing illegal about this, but the thing that tipped us off is a six-month closing date,” said Service Minister Heather Klimchuk.

She said it’s possible people are looking to buy homes at below market value and then resell them once the market rebounds, and there is concern the buyers could break the contract if it doesn’t.

Klimchuk said if someone receives one of these letters, “they should get advice by people in the business, just don’t make a hasty decision.”

 
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