2
Water saturation, subsidence and flood zones
2.2 Subsidence
Real estate projects require permits. Municipalities, insurers and financial institutions often require tests or various guarantees before authorizing a project.
A real estate broker representing a buying client who plans to build or expand on a lot located in a wetland must exercise his advisory role by recommending that the buyer verify that his project will be authorized before, rather than after, signing of the deed of sale.
Duties and obligations of the broker
When a buyer has building or expansion plans, the broker must:
- make the Promise to purchase conditional upon expert appraisals, including with the use of the Annex – Expert report
- follow up and make sure deadlines are met
- Reference number
- 208801
- Last update
- November 29, 2021