Question:
- What is the Buyer’s Agent’s disclosure responsibility if they find something major during the home inspection?
- I thought the Listing Agent has to disclose to future buyers if one buyer does a pre-offer inspection, finds something major, and walks away.
Answer:
- The Buyer’s Agent has no responsibility to disclose anything that may be revealed by an Inspection other than to their own Client, the Buyer.
- The Listing Agent does not have to reveal anything. The Listing Agent must follow the Seller’s instructions. The Seller need only disclose material latent defects, of which he has knowledge. Here, knowledge should be avoided since it may compromise the Seller’s common law rights.
UPDATE: This was true until TRESA came into effect on 1 December 2023. Now, that’s no longer the case. There are new disclosure requirements placed upon the Listing agent. So, check them out. For situations which took place prior to 1 December 2023, this is still the case. I have other articles written dealing with the new changes.
Brian Madigan LL.B., Broker