Local market / Brampton / Ontario
RECO freezes accounts at Century 21 Royaltors Realty in Brampton
RECO has frozen a Brampton brokerage's accounts. Read the regulator's notice, deposit-insurance resources and questions for buyers with a closing ahead.
At a glance
Ontario's real-estate regulator issued an October 23 advisory concerning Century 21 Royaltors Realty Inc. Brokerage. Here are the reported facts and consumer resources.
What RECO reported
RECO says a complaint led to its October 22 inspection, which found an approximately $150,000 trust-account shortfall. The regulator says the action did not arise from its new annual financial filings program.
The freeze secures remaining funds and may affect ongoing transactions. According to the notice, the brokerage remains open and agents can continue marketing active listings.
Where affected buyers and sellers can turn
RECO directs affected buyers and sellers to their agent or broker of record. Its advisory below provides contacts for pending transactions and deposit questions.
The regulator's general deposit-insurance guidance says coverage is subject to policy terms and limits. It does not cover a simple dispute between buyer and seller over who should receive a deposit. RECO suggests contacting its insurance department for information before making a claim; a lawyer can advise on deposit-entitlement disputes.
Keep the closing and financing questions together
For an Ontario purchaser approaching closing, our practical takeaway is to bring the purchase agreement, deposit receipt and financing documents into the same conversation with the agent, lawyer and mortgage professional. Ask which dates or documents need attention in your own transaction.
- What confirmation does my lender need about available down-payment and closing funds?
- When does my pre-approval or rate hold expire, and what happens if the closing timetable changes?
As general financing background, the Financial Consumer Agency of Canada says lenders or brokers need evidence of funds for the down payment and closing costs. It also explains that pre-approval does not guarantee a mortgage and recommends asking how long a rate is guaranteed and whether pre-approval can be extended.
Our pre-approval playbook helps organize those questions. For decisions about a specific purchase, discuss the agreement with your lawyer and the financing with your licensed mortgage professional.
Sources & verification
- RECO — Century 21 Royaltors Realty advisory
Original notice checked; RECO's news index dates it October 23, 2026. Accessed October 24, 2026.
- RECO — News and public advisories
Confirms the advisory's publication date; checked for subsequent notices. Accessed October 24, 2026.
- RECO — Consumer deposit insurance
Background on policy conditions, deposit disputes and contacting the insurance department; no claim outcome is assumed. Accessed October 24, 2026.
- FCAC — Getting preapproved for a mortgage
Background on proof of funds, conditional approval and questions about timing; not a new financing rule. Accessed October 24, 2026.
This AI-assisted briefing summarizes public sources and provides general context. It is not a personalized mortgage recommendation or a lender quote. Editorial policy · Report an error.