Home Inspection Challenges

Reblogger Bill Jones
Real Estate Agent with Discovery Real Estate Ltd. - "Homes By Jones"

Here's some quality information from my friend Terri Stephens;

Original content by Terri Stephens

Did you know that the buyer will have the right to have the property inspections completed by a professional or otherwise qualified inspector?  There are no Alberta regulatory Rules that govern or license property inspectors.  There is an association but it is not a requirement to belong.

Neither the seller nor their representative have any say in who the buyer engages to perform an inspection, unless there is a written agreement or term inserted into the contract.  The buyer is at liberty to use a friend, relative, inspection company, plumber, electrician or any other person they choose to perform an inspection.

The buyers has a valid reason not to give notice to waive/release the condition if:  Three options are given"  The inspection is unacceptable, deficiencies are in excess of 1% of the purchase price or a specific dollar amount.  As this is a unilateral condition for the sole benefit of the buyer, it is the buyer who determines whether or not they wish to waive conditions.

If the buyer chooses not to waive the condition, the AREA purchase contract, under clause 8.4, states: If notice is "not" given, then the contract is ended immediately following the condition day.  In clause 8.6, the buyer may give written notice to the other party on or before the stated condition day advising that the condition will not be waived, has not been satisfied and will not be satisfied on or before the condition day.  IF notice is given, then the contract is ended upon the notice.

Basically - this condition leaves all the cards in the buyers hand. 

Currently Alberta (AREA & CREA) are reviewing the Home Inspectors - and discussing they be licensed. 

In my humble opinion HOME INSPECTORS need to be more accountable for their reports!!

 

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Bill Jones

Realtor (403-701-1739) Airdrie & Calgary Area Homes and Condos
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