You will recall that I had suggested some arrangements to be set in place to assist in having Pre-listing Home Inspection continue in face of the new rules set out under TRESA.
An unsigned draft Report was to be reviewed by the Seller’s lawyer.
Here was step #9:
If the draft Report is not acceptable in the opinion of the lawyer, simply proceed without any further involvement
Question:
#9. Does this mean as the agent you would walk away from the listing or that you would not include the Report?
Answer:
Your choice!
At the outset, the lawyer would not acquire the actual Report, nor would you ever get to read the draft. That means there is nothing to provide to anyone.
However, it does likely indicate that there is a serious problem of some nature.
The Seller should then discuss this matter with their lawyer.
If repairs are required, and they proceed, then, the Inspector can return and complete a Report which would be favourable. The issue whatever it was has now been resolved.
But, if there’s a suspected problem and no potential solution at hand, then, the Listing agent should strongly consider not proceeding with the Listing. There is something out there which could potentially come back in the form of a lawsuit.
So, if it’s not “solved”, at least “disclose” it. This should save everyone in the future. The Buyer knew, the Seller disclosed and the Agent accommodated the disclosure. Otherwise, the issue remains a risk, and the Agent should definitely reconsider the Listing. Why get involved in a future lawsuit?
Brian Madigan LL.B., Broker