The Real Estate Council of British Columbia has suspended the real estate licences of Kevindeep (Kevin) Singh Bratch and Bratch Realty of Vancouver, “while it further investigates whether Mr. Bratch was engaged in aggressive marketing and sales practices targeting vulnerable persons who were financially distressed as a result of their homes being in foreclosure proceedings,” it says.
“The Council is also investigating whether these were ‘predatory’ schemes for personal gain and profit at the expense of those who were in distress.”
In its Reason for Order, Robert D. Holmes of the Discipline Hearing Committee writes, “The gist of the allegations here is that Mr. Bratch targeted vulnerable homeowners, namely, people experiencing financial distress, whose homes were subject to foreclosure proceedings, and who were not represented or advised by another licensee or by legal counsel. 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.”