Summary of October 21st, 2021 article in THE GLOBE AND MAIL:

A few highlights from the article:

Hot markets, multiple-bid situations ✓

Buyers

• Skipping inspections; volumes down 50%.

• Reluctant to add conditions; fear losing out to clean offers.

• After spending more $ than ever to buy homes + taxes, moving, closing expenses and renos, many buyers have no money left to fix old roof, furnace, or plumbing.

Realtors

• Recommend sellers buy pre-listing inspections & offer report to prospective buyers. All parties are happy because homes sell faster with more bids and less renegotiation.

• Recommend sellers allow pre-offer inspections within timeline/deadlines.

A home inspection can

• Save your client tens of thousands & avoid a money pit home.

• Eliminate post-sale litigation if surprises uncovered after sale.

• Prevent future resale & insurance challenges related to HAZMAT & foundation issues.

• Protect more than standard disclosures.

What the government is doing about it

• Liberal govt proposing Home Buyers’ Bill of Rights.