A Member has reported an unusual occurrence that took place on August 5.
A Member has reported a concern regarding a Buyer who made an offer on an Oakville home listed for sale for $4 million, and failed to follow through with the deposit funds.
Prior to showing the home, the Listing Salesperson requested the Buyer’s financial documents through the cooperating Brokerage. The documents, which are confirmed to have been falsified, were from a major financial institution and reflected account balances from $3 to $6 million.
The Buyer provided two explanations as to how she acquired the funds, initially indicating she had received an inheritance and then stating she had been paid substantial funds for artwork she created.
After viewing the home on two occasions, she made an offer during the August holiday weekend, which was accepted. She failed to produce the agreed upon deposit of $400,000 on August 4, and on August 6, she signed a mutual release.
The Listing Salesperson subsequently learned that she also made an offer on a high-end condominium lease in C01 within the past month; however, it was not accepted. Additionally, she has recently viewed at least one other luxury condominium in downtown Toronto.
The individual is described as a 22-year-old woman, approximately 5’1” tall. She indicated that she is an art student who lives in Toronto with her parents.