Author, speaker and real estate lawyer Mark Weisleder recently released an article in the Toronto Star regarding a new report that is available for home buyers for only $99.00. It is a well-known fact that buyers have to ‘beware’ when buying a home, as home inspections can only reveal so much about the condition of a home and it’s history.
Mark points out that a lot of the information that buyer’s ultimately need is collected by insurance companies, but they won’t share it. Ottawa based homeproof.com is now offering information on past claims on a home for $99. A home history report is prepared for this fee which compiles information and claims on past sewer backups, floods, fires, earthquake damage, hail and wind damage, electrical fires, burglary and theft and grow ops. The report can go back between 10 and 15 years.
Mark believes that provincial governments should consider making this kind of report a mandatory requirement for any re-sale home purchase. In the meantime though, buyer’s should continue to beware and sellers should always use full disclosure to avoid any future law suits.
Source: Mark Weisleder http://www.markweisleder.com/12torontostararticle0406.pdf
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