{"id":1484,"date":"2021-07-07T06:02:09","date_gmt":"2021-07-07T04:02:09","guid":{"rendered":"https:\/\/carolinesimard.ca\/?p=1484"},"modified":"2022-02-22T22:48:07","modified_gmt":"2022-02-23T03:48:07","slug":"be-a-prudent-buyer-even-in-a-crazy-real-estate-market","status":"publish","type":"post","link":"https:\/\/carolinesimard.ca\/en\/be-a-prudent-buyer-even-in-a-crazy-real-estate-market\/","title":{"rendered":"Be a prudent buyer even in a crazy real estate market"},"content":{"rendered":"\n

It is no secret that the current Covid-19\npandemic is causing real estate fever: more and more people are looking to\nbecome homeowners in a saturated market. As a result, the buyer is often forced\nto acquire a property at over-auction, abandoning the pre-purchase inspection\nand accepting that the sale is made at his own risk. What do these concessions\nimply, legally speaking? <\/p>\n\n\n\n

Buying without an inspection<\/h2>\n\n\n\n

The role of a pre-purchase inspection is to\ninspect the property in order to identify if there are apparent defects. Since\nthe inspector is not required to open the walls or enter areas that are too\ndifficult to access, the inspection report is rather to sound the alarm by\nalerting the buyer to situations that merit further consideration. <\/p>\n\n\n\n

Thus, neglecting the pre-purchase inspection considerably reduces your chances of identifying apparent defects, signs of more serious defects and visible components that affect the value or use of your future property. Although it is by far preferable to proceed with such an inspection, the Courts do not necessarily always require it. In fact, according to the law, it is sufficient to act as a prudent and diligent buyer. To satisfy this condition, an inspection may be necessary, depending on the situation. This is the case when the buyer has no knowledge of construction or because of the age of the property purchased. It is therefore possible that the fact of not doing a pre-purchase inspection will ultimately be held against you. <\/p>\n\n\n\n

Buying without a warranty and at your own risk <\/h2>\n\n\n\n

This condition entails significant risks for\nthe buyer. <\/p>\n\n\n\n

The law states that the seller must guarantee the quality of the property sold.  This has the effect of offering you recourse when you discover, after the transfer of title, that the immovable is affected by hidden defects<\/a>. <\/p>\n\n\n\n

However, the inclusion of such a clause in the\ndeed of sale inhibits the effect of the law. As this is not a rule of public\norder, the parties are effectively free to conclude what they want. They can\nthus limit the scope of the legal warranty and even exclude it completely:<\/p>\n\n\n\n