Paula's Adventures In Real Estate

Let me help you make your next move!

Here We Grow-Op Again! January 22, 2010

So, did you happen to read last weekend’s Arnprior Chronicle-Guide? When I first saw the front page, I couldn’t believe my eyes. “Police find home crammed with pot plants” was the headline. I read on to find out more details and when I saw the address, I exclaimed “I know that house!” Turns out, it’s the same house that my brokerage had listed for sale just over a year ago.

I did a little more digging and discovered that the man who purchased the property is the very one who was mentioned in the paper as having been arrested for the crimes committed. The plot thickens…

Now I was not involved with the listing or the selling of this home but I know the agents who were and they were just as surprised as the rest of us. I’m sure the buyer did not make his true intentions known (well duh). “I’m looking for a brick bungalow with 3 bedrooms, 2 bathrooms, eat-in kitchen and a cozy gas fireplace in which I can completely gut and destroy as I’m planning on cultivating approximately 1,400 marijuana plants and making a cool 1.4 million in the process. Can you help me?”

Last August, a home on the Waba road was listed for “land value only” as it too, had been completely destroyed being a former grow-op. It ended up selling for approximately $200K less than what it would have been worth had it not been totally and utterly full of mold.

This is a great example of why real estate agents must now complete an Individual Identification Information Record for each of their clients before proceeding with any transactions. It is the law that we have to actually see a piece of our clients’ identification first hand (ex. driver’s licence or passport – photocopies not acceptable) and note the document number, expiration date, and issuing jurisdiction before proceeding with any transactions. It’s an initiative developed by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada http://www.fintrac.gc.ca/) to help safeguard against possible terrorism, money laundering and other criminal activities.

So the next time you’re about to sign on that dotted line to buy or sell real estate and your agent asks to first see some ID, you’ll know why and will have nothing to worry about – unless of course you are up to no good, in which case you should probably just walk away…

‘Till next time,

Paula