Man bequeathed expensive Vancouver property loses lawsuit against realtor for lost profits

When a waterfront Southlands acreage that was partly willed to a Vancouver man eventually sold, he got $7.5 million, about half of the listed value.

Stanley claimed that realtor Derek Grech was also negligent for not advising him of strata restrictions on development, which Stanley said affected the sale timeline and price, and for not suggesting he seek legal advice, or seek that advice himself during the sale.

Stanley had originally filed a lawsuit in B.C. Supreme Court, asking for about $1.6 million in damages from the realtor and his company Angell Hasman and Associates.

The suit said that by the time the property was sold, “Mr. Stanley was in financial distress, resulting in his selling (the property) at a discount,” and as a result was seeking $1,150,000, the difference between the fair market value and what he sold for.