An article in the Toronto Star dated 2015-08-22 is very sensational and disparages all REALTORS® in Ontario. The lawyer let me call him Babby basically states that a buyer purchased a home with a boiler plate clause that states “The Seller warrants that all the Chattels, fixtures, Sewage, mechanical, electrical, heating, ventilation, air conditioning systems, swimming pool and equipment on the real property shall be in good working order on completion. The Parties agree that this warranty shall survive and not merge on completion of this transaction, but apply only to those circumstances existing at the completion of this transaction.” In the article he states that there were issues with the pool and heating system in the home and they were found to be faulty so the buyer took the vendor to court for damages.
My question is! was there a home inspection? did the buyer move forward without one? It happens in heated markets but that is something that I would fully explain to assure my client did not get hooped in the heat of getting a property. Was the buyer coached to not have an inspection by their REALTOR®? if so shame on the REALTOR® The property should have had a reputable knowledgeable home inspection completed prior to firming up on the deal! If this was completed the buyer would have known that the heater and the pool had issues and one would assume the buyers representative would asked for some sort of concession before moving forward on the purchase.
If the home was purchased during the fall or winter when the pool was not open, why would the representative not have a held back money for the mechanical of the pool? How about getting the regular pool company to provide a written report before the pool was closed disclosing the maintenance and future concerns with regards to the pool. Finally there is insurance for issues like this that can be purchased for future concerns.
I really think one-side, slanderous, and just written to sell newspapers! But thanks Babby as I got a great Blog post from it!