Seller beware: Manitobans cautioned about handwritten offers to buy their homes

Warning over house flippers Jeff Keele reports on a warning from the Manitoba Securities Commission about handwritten offers to buy homes.

The Manitoba Securities Commission is warning homeowners to beware of notes appearing in their mailboxes, handwritten by people offering to buy their property.

In many cases, the commission says, the notes are from house flippers who have no plans to live in the home but simply hope to re-sell it for more money.

They typically target homeowners they know or suspect are having money issues, with plans to offer them less than what their homes are worth.

Winnipeg resident Chris Lambier says he has had a few of the notes land in his mailbox over the last few months.

The letters claim to be from people who say they would like to buy his house and all he has to do is call the name and number on the letter.

"I was suspicious about this,” Lambier told CTV Winnipeg, adding he’s heard of other neighbours on his block getting similar notes.

The Manitoba Securities Commission says, after it received several complaints about such letters, it has issued a warning to homeowners that the house flippers behind the notes will often use aggressive tactics to urge homeowners to sell for less than what their home is worth.

"They've been approaching people where they seem to have an idea that they might be in financial trouble and as a result of that they tend to lowball the person," said Chris Besko, Manitoba Securities Commission director.

The securities commission says, typically, if a homeowner calls the number on the letter, they're offered a lower-than-market value price for their house. They’re also urged not to call a real estate agent, so they can have a “private sale.”

The homeowner might also be asked to sign a contract to allow so-called architects and engineers inside their homes. These people are often simply investors assessing if the house is worth flipping.

Keith Schinkel, the registrar of the MSC’s real estate division says it’s never a good idea to sell a home without getting professional advice from a real estate appraiser.

“It’s extremely important to take time to understand the real estate transaction you are getting into, before it is too late,” he said in a statement.

“Before selling your home, you should take steps to ensure your personal interests are protected. This can include getting independent advice from someone not tied to the transaction.”

The MSC also advises against signing documents without fully reading them and understanding what they mean, and instead seeking independent legal advice before signing anything.

As for Chris Lambier, he's not picking up the phone and hopes other homeowners will do the same.

"If you get it in the mail, throw it in the garbage right away," said Lambier.

With a report from CTV Winnipeg’s Jeff Keele