Most buyers who are interested in a home or condominium that is more than five years old will strongly consider a home inspection as part of their purchase process. However, when the desired property is a home that is less than five years old, some buyers prefer to save the cost of an inspection, believing that the risks are lower because the building is "still under warranty.”
On July 26, 2022, the Bureau de normalisation du Québec (BNQ) published the draft standard BNQ 3009-500: “Residential building – Inspection practices in a real estate transaction context” following the consultation of various stakeholders, including the OACIQ, by a standards committee.
As part of the measures implemented to address the issues raised by the overheated housing market, the Ministry of Finance and the OACIQ have agreed to amend the promise to purchase forms to reinforce the messages pertaining to the risks of waiving a pre-purchase inspection.
Appearing before a parliamentary committee today to present its comments on Bill 16, the OACIQ reiterates its support for the government's desire to better regulate divided co-ownership and building inspection
Building inspection: the OACIQ calls on consumers to be cautious and reiterates the importance of overseeing this industry
As a regulator, the OACIQ reiterates its position in favour of stricter supervision of building inspection and calls on consumers to be cautious when choosing their inspector.
When selling an immovable, whether you're a seller or buyer, you should not take for granted that the stove, fireplace or chimney of the immovable meets the current standards of both the insurer and the municipality. Hence the importance of an appropriate verification.
During a real estate transaction, whether you're a seller or buyer, how can you be sure you are giving or getting a clear picture about the possibility that the property is located on a former landfill site or that it is affected by radon, pyrite, dry rot, etc.?
During a real estate, don’t hesitate to seek help from seasoned professionals. If you do business with a broker duly authorized by the OACIQ, he will provide you with a list of trustworthy people to assist you at every step of your transaction.
Doing business with a real estate broker also means having access to a vast network of qualified professionals who will play a key role in ensuring that your real estate transactions goes off without a hitch..
The Regulation respecting brokerage requirements, professional conduct of brokers and advertising (hereafter “the Regulation”) states that a broker or agency executive officer must take steps, in accordance with accepted practice, to learn of any factors that may adversely affect the party represented by them or the agency for which they act, the parties to the transaction or the very object of the transaction.