There were 100,000 homes in Canada insulated with UFFI, and as a result every Agreement of Purchase and Sale contains an UFFI representation clause. Today there are 50,000 confirmed grow ops in Canada, and this number is “growing”.
Even though the consequences from a health and financial perspective are much more serious for an unsuspecting Buyer, there is no ‘criminal activity’ clause in Agreements of Purchase and Sale dealing with grow ops. There should be a ‘criminal activity’
The Harmonized Sales Tax (HST) comes into force on July 1, 2010. The Real Estate Industry is the hardest hit of any industry in the province. Real Estate commissions and legal fees that were previously exempt from Provincial Sales Tax (8%) will be subject to the HST (13%), adding approximately $1,500 to the cost of the average sale transaction.
The HST will not apply to the cost of a resale home; but all new homes will be subject to HST. There is a 6% rebate on new homes with a purchase
The most common complaint Buyers have closing their house purchase is that the basement has a water leak and the Seller told them it was a dry basement.
How as a buyer do you protect yourself?
You have a home inspection and if the inspector raises any questions, you get the Seller to represent in the Agreement there are no problems.
You ask the Seller in the Agreement to represent in writing that there have been no leaks and the basement has always
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