Don’t Skip the Home Inspection Despite the Skyrocketing Market!

Don’t Skip the Home Inspection Despite the Skyrocketing Market!

In a hot real estate market where homes are being snatched up left and right, and bidding wars are common, it may be tempting to secure that coveted property without having it inspected. Here’s why you may repent of it later.

 

You may know people who have been looking for a new home for months now and that have had numerous promises to purchase rejected. Having been disappointed, some may decide to forgo a home inspection to expedite the process and avoid having the rug pulled out from under them. This frequently means having a not necessarily qualified friend carry out the inspection or skipping it altogether. 

The Potential Risks for Your Health and Finances

To protect your interests, make sure that the promise to purchase contains a clause making the sale conditional on a home inspection before you sign. If major issues are then discovered, you will be able to either renegotiate your terms or withdraw your offer. Surprisingly, every year in Quebec thousands of buyers do not call upon the services of a building inspector who could provide a written report on the state of the property they wish to buy. And more and more people are taking this risk since the start of the pandemic. Especially as the inspection is not required by law. 

The consequences of going through a sale with no professional inspection can lead to dire consequences. Poor ventilation, insufficient insulation, a damaged roof or foundation can be costly issues to repair.

 

It May Undermine Your Credibility in Court

But the risks don’t end there. A buyer who decides to sue the former owner of a home because of a latent defect may not be taken seriously by the judge if the residence was not inspected before the sale. The judge may consider the buyer to have been careless and negligent. The Civil Code provides for two types of defects, the latent defect (for which the seller is responsible) and the apparent defect (for which the buyer is responsible). Failure to have the house inspected means potentially having your hands tied if a problem should arise.

Choose a Qualified Home Inspector

As previously mentioned, a friend who is familiar with home construction is not equipped to inspect a residence. A person with no expertise in building inspection could fail to identify an apparent defect. And yet, according to the law, the problem would still be considered apparent! Hiring a recognized building inspector with liability insurance or a professional is essential. It is true that an inspection will add a few hundred dollars to the transaction, but the risks outweigh the cost!

Integri-T Program: Additional Protection

Have you heard of RE\MAX’s Integri-T program? Made possible thanks to the collaboration of the Association de la construction du Québec (ACQ), this unique guarantee offers financial protection to both buyers and sellers in the event of a latent defect claim. As a participating buyer, if latent defects are discovered after the sale, the Conciliation Department handles the claim and makes it possible for the parties to avoid court proceedings, saving you legal fees, insurance adjuster's fees and time. Furthermore, this guarantee in case of a latent defect claim is valid for two years, up to $40,000. This additional protection, in combination with a building inspection, will ensure that you maximize your chances of purchasing a home that meets your expectations while enjoying complete peace of mind.

To conclude, we understand that it may be tempting to take a few shortcuts in such a volatile real estate market; however, the inspection should never be considered optional. And never hesitate to ask your broker for advice.

RE/MAX Québec

By RE/MAX Québec

By RE/MAX Québec

A leader in the real estate industry since 1982, the RE/MAX network brings together the most efficient brokers.