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| Info OACIQ > Building inspection |
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Not many real estate transactions proceed nowadays without there being a prior building inspection. The result is that, for some years, the number of building inspectors has been constantly increasing. Despite this, the building inspector is the only one of all the players in a real estate transaction who is not subject to any legislated supervision. In fact, real estate brokers and agents, notaries, surveyors, etc. are all subject to a professional Act, specific to their field of activity, whose purpose is to protect the public.
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Buyers are interested in an immovable and ask their real estate agent to draw up a promise to purchase. In accordance with good trade practices, the agent advises them to include a property inspection clause, i.e. clause B2.4 of the form Annex B – Residential Immovable.
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Québec real estate brokers and agents now have new tools to help them fulfill their advisory role with their clients on a pivotal aspects of any successful real estate transaction: the building inspection. These tools are the Declarations by the Seller of the Immovable, the Service Agreement for the Inspection and the Standards of Practice for Building Inspections.
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In spite of all the efforts made since its introduction, the “Declarations by the seller of the immovable ” form remains little or improperly used. Unfortunately, the absence of adequate verifications is a frequent source of requests for assistance received by the ACAIQ.
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When selling an immovable, people tend to neglect a very important step: inspection of the stove or fireplace and the chimney. They forget that these heating devices must comply with the requirements of both the insurer and the municipality.
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The use of the Declarations by the Seller of the Immovable (DS) form is strongly recommended in any residential transaction.
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A building inspection is an important step in a real estate transaction. It is a key element of public protection. It is the agent’s obligation, therefore, to recommend that the buyer have a complete inspection done of the immovable. But who hasn’t heard stories about so-called professional inspections?
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Although they are becoming rare in several regions, there are still building inspectors that are covered by professional liability insurance. The Association des courtiers et agents immobiliers du Québec would like to remind members to make sure that the inspectors they recommend to their clients are insured.
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Stakeholders in the real estate sector are unanimous in their opinion that the time has come to act in order to control and regulate building inspections.
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