Many Canadians face a lack of transparency when it comes to the potential of unexpected repairs
Canadian Home Inspectors for Consumers has announced the formation of a national industry coalition that will highlight the value of home inspections for both buyers and sellers amid current market conditions.
According to coalition members, a pressing problem that many Canadians currently face is the lack of transparency when it comes to the potential of unexpected repairs in a property slated for purchase.
“Canadians are making one of the biggest financial commitments of their lives without the information they need to make an informed decision. This creates huge financial risk with unforeseen problems lurking,” said Alan Carson, CEO of Carson Dunlop.
“Even items like collectible sneakers and artwork are authenticated before resale – so, how is it possible that Canadians are privy to more protection for these items than when buying a resale home?” added Rick Mayuk, regional owner of A Buyer’s Choice Home Inspections. “Home buyers are being denied the basic due diligence afforded by a professional home inspection.”
The coalition said that the Home Buyers’ Bill of Rights is a significant step in the right direction, and it is calling for more federal support to assure consumers that their investments are sound.
“Those selling their homes would also benefit from a pre-listing home inspection by making the report available to serious, well-informed prospective buyers that protect both sellers and real estate agents from lawsuits by unhappy buyers in the case of necessary and costly repairs,” said Leigh Gate, owner of Home Advantage Property Inspections and president of the Ontario Association of Home Inspectors. “Home sellers who complete pre-listing home inspections create a level playing field for all parties, ensuring transparency in a significant transaction.”