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Friday, March 6, 2015

No need to Disclose



Recently it has been enlightened by the province that: Sellers & their representing Realtors, MUST disclose material latent defects affecting the property. But are NOT OBLIGATED to disclose STIGMAS for example: murders, suicides, grow-ops etc. So buyers must request further clarification if these stigmas are issues. As I always tell my clients, make sure that house FEELS right.

As per the Real Estate Council of Ontario:  

It is important for registrants to know that while sellers are required by law to disclose material latent defects affecting a property that are known to them (an obligation which also exists for the seller’s representative if the material latent defect is also known by the representative), there is no legislation or case law in Ontario to suggest that a seller, or his or her representative, is required to disclose the existence of stigmas to buyers

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