Businessman Vince Iannello lost his real estate license as a result of deceiving a blind man into selling his house.
A 73-year-old blind man named Harold Verge sued Vince Iannello for $1.25 million in 2019.
Royal LePage Your Community Realty brokerage is another defendant mentioned in the case.
Harold claimed Vince was careless and asked for punitive and general damages totaling $1.25 million.
The blind victim claimed that he and his wife had been worrying about their future because of the sale. The couple doesn’t have enough money, he pointed out, to purchase another home.
The couple started renting a smaller house after Vince Iannello “tricked” the blind victim into selling his house. Their former area is miles distant from where they now live.
Vince “needs to get his act together,” Harold Verge said to the press.
The former realtor who is now an accountant responded by denying any accusations of carelessness or misconduct.
Why Vince Iannello Faced a $1.25 million lawsuit from a blind man:
Harold and his spouse were forced to vacate their Greenwood Avenue home at 42 Connaught Avenue in April 2019. The claim is that Vince sold the residence without their consent.
It was the couple’s home since 1995.
Harold Verge claims that Vince proposed to assist the couple in refinancing their mortgages. He informed the blind guy that he and his wife could no longer legitimately own a home the day following the mortgage renewals.
The lawsuit claims that Vince misled the Verges about the law’s prohibition on real estate ownership by those over 65. Therefore, the couple’s ownership of the house was unlawful.
It’s important to note that senior folks are not prohibited by law from owning property in Canada.
Vince refrained from listing the house on the Multiple Listing Service.
Vince Iannello never placed the house on the Multiple Listings Service, or MLS, aside from deceiving the elderly blind man.
With the help of MLS, realtors can draw in more potential customers to their listings.
Vince sold the house for “well under its market value,” according to the lawsuit. It says he didn’t provide the kind of attention you would expect from a licensed real estate agent.
The residence was sold by Vince Iannello for $675,000. It’s a semi-detached house with two and a half stories.
An email from Royal LePage to the media stated that it was appraised at $750,000, despite the fact it needed a lot of maintenance.
The email also disclosed to the media that two nearby residences with comparable features had just gone up for about $880,000.
Vince got far less than what the house was worth when he sold it.
According to the lawsuit, Vince informed his fellow real estate brokers about the house’s availability. Approximately nine days later, one of them was purchased.
Harold Verge and his spouse, however, had no intention of selling their house.
However, Vince Iannello misled them by advising them to accept the offer of acquisition and by saying that they had the opportunity to back out of the deal at any time. There was not one of these kinds of provisions.
Vince Iannello: Where is he Now?
Vince Iannello resigned from his position as a real estate agent after being revealed.
He is not registered with any brokerage for real estate.
He now presents himself as an authority on finances and offers to assist clients with tax, accounting, financial planning, and other services. Vince Iannello Professional Corporation is run by him.
Importantly, he wasn’t let go. He simply stopped working as a real estate agent.
On social media, a lot of individuals expressed their outrage about this tale.
According to one, Vince is a “greedy psychopath” who ought to be in prison. He emphasized that it appears Vince attempted to conceal the transaction because he never put the listing on MLS.
The Bottom Line
Selecting a real estate agent is something you should do very carefully. Due to his questionable behavior, Vince is not the only realtor who has drawn criticism.
Zolo Realty’s Kyle Kerr recently changed employers after a lady revealed on the internet that he had drugged and molested her.
Sepy Kopahi, a realtor who is being sued for fraud and forgery, is another example.
So, take care of Vince. His work history does not suggest that he is a trustworthy professional, even though he is no longer a realtor.
