B.C. Realtor accused of 'predatory' rent-to-own scheme got licence suspended.

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Meeshika Sharma
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Kevindeep Singh Bratch, a Realtor accused of preying on struggling homeowners on the brink of foreclosure got licence suspended by the Real Estate Council of B.C.

Kevin Bratch is his professionally used name.He has been accused of misleading vulnerable mortgage holders with a rent-to-own scheme that carried steep penalties and oppressive conditions.

Robert Holmes of the council's disciplinary committee wrote in the reasons for suspension, "Mr. Bratch bought their homes at an under-value, on the basis that they could continue renting their homes, and opt to rebuy their homes. But the terms were highly disadvantageous, to the point of the 'rent to buy' program being 'predatory' in nature."

The council made the suspension order last month against Bratch and his firm, Bratch Realty, under "urgent circumstances" and says it will remain in place while an investigation is underway.

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Holmes said that it was necessary to suspend Bratch's licence to protect the public, as the investigation into the Realtor's activities could take more than a year.

The investigation began after local media reported on an elderly couple who said they had entered into a rent-to-own agreement with Bratch when the bank began foreclosing on their house. Bratch reportedly evicted them on Thanksgiving, saying they had breached the terms of the contract.

publive-imageBrenda and Gord Gartley always pictured retirement in their single-family Maple Ridge home that they had lived in for a decade.But on Thanksgiving Day, they found themselves living out of a tent in Golden Ears Provincial Park instead of their Rogers Avenue home.They were evicted from their Maple Ridge home after entering a rent-to-own agreement with realtor Kevin Bratch and partner Mandeep Tatlay.

According to the council, part of the problem with the scheme lay in a brochure setting out the terms of the agreement.

Holmes wrote, "The language in the brochure was unclear in places, and misleading in others."

He says, the brochure told clients that they would have the option to buy back their homes within three years, but the terms of the contract actually limited them to a year or less.

 

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