Yatter Matters

Buyer Beware

When buying property the principle of caveat emptor applies. Buyers need to satisfy themselves as to the condition of the property they wish to acquire. The only exception is the requirement that sellers disclose material latent defects of which they are aware.

Latent defect:

A hidden or concealed defect that would not be discovered during the course of a reasonable inspection.

Patent Defect:

A defect which is plainly visible or which can be discovered during the course of a reasonable inspection.

In B.C. a seller has a duty to disclose material latent defects, but not defects that are patent.

A recommended practice for Realtors® is to advise you to conduct an inspection to discover patent defects. Before you sign, be certain that this condition is part of your offer to purchase. The inspection by a qualified person gives you the opportunity to find defects not observable during casual viewing.

You Lose

Here’s a judges decision against a buyer seeking remediation who chose not to conduct an inspection prior to purchase.

The BC Court of Appeal dismisses appeal

A purchaser who has no knowledge of house construction may not recognize that he or she has observed evidence of defects or deficiencies. In that case, the purchaser’s obligation is to make reasonable inquiries of someone who is capable of providing the necessary information and answers. A purchaser who does not see defects that are obvious, visible, and readily observable, or does not understand the implications of what he or she sees, cannot impose the responsibility and liability on the vendor to bring those things to his or her attention. (Cardwell v. Perthen, 2007)

Protect yourself

Engage a qualified professionals to inspect and advise you on the condition of the property.

Got a Vancouver Real Estate question? I’ll do my best to answer it. Call at 604.657.6236, or send me an email. Larry