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