TORONTO, Feb. 26, 2016 /CNW/ - The Real Estate Council of Ontario (RECO) is warning members of the public not to engage in real estate transactions with Baljit Singh Dhaliwal. Neither he nor his company, Global West Real Estate Developments Limited, are registered to trade in real estate.
In order to trade in real estate in Ontario, salespersons, brokers and brokerages must be registered under the Real Estate and Business Brokers Act, 2002 (REBBA 2002). This is the law that regulates real estate trading in the province and which is enforced by RECO.
On January 14, 2016, RECO revoked the registration of Mr. Dhaliwal. The Registrar's proposal to revoke, which was not appealed by Mr. Dhaliwal, alleged that he was improperly handling trust funds.
On February 4, 2016, RECO received new information about a trust deposit on a real estate transaction where Mr. Dhaliwal was the listing and selling representative. Following further investigation, RECO located an account containing consumer funds.
Based on suspicions of ongoing illegal activity, on February 23, 2016, RECO issued a freeze order on a bank account of Global West Real Estate Developments Limited, being operated by Mr. Dhaliwal. Global West Real Estate Developments Limited is not registered as a real estate brokerage under REBBA 2002.
Freeze orders are issued for the protection of consumers, and prevent any funds being withdrawn from accounts.
RECO is continuing its investigation and taking appropriate action under the law. Anyone who has a complaint regarding their real estate transaction with Baljit Singh Dhaliwal should contact RECO.
Mr. Dhaliwal was previously registered under REBBA 2002 with Global West Realty Limited and Century 21 New Stars Realty Inc. Both of these brokerages remain registered.
SOURCE Real Estate Council of Ontario
For further information: James Geuzebroek, Manager of Communications, Real Estate Council of Ontario, 416-207-3108; firstname.lastname@example.org