Canadian Residential is pleased to announced we have joined forces with other national home inspection companies and industry associations banded together to bring awareness to the importance of home inspections and to advocate for Consumer Rights.
‘Canadian Home Inspectors for Consumers (CHIC)’ was formed with the common goal of protecting home buying Canadians in the current market. In a heated seller’s market, Home Buyers are feeling pressured into purchasing with no conditions and are all too often paying well over asking price with little to no information on the current condition of the home. Many of these buyers do not have the resources to handle unexpected repairs should they arise.
We believe the lack of transparency when purchasing a property is unfair to home buyers and does not align with or support the Caveat Emptor (buyer beware) guiding principle, as it does not provide buyers with an opportunity to do their due diligence by obtaining a professional home inspection.
The federal government is also aligned with protecting Canadians by way of the Home Buyers’ Bill of Rights, which commits to “Establishing a legal right to a home inspection to make sure that buyers have the peace of mind that their investment is sound.”
The B.C. government announced last week they are moving ahead with a mandatory cooling-off period later this spring. The Homebuyer Protection Period will ensure home buyers in British Columbia are permitted the opportunity to conduct a home inspection.
CHIC hopes to see every property that goes on the market have a pre-listing inspection. We believe this will level the playing field for all parties and is the most simple, fair and cost-effective solution by bringing well informed buyers to the table and helps to protect sellers and agents from unhappy buyers and potential lawsuits.