Home sellers and their agents must honestly disclose certain defects
What are sellers obligated to disclose when selling their home?
The short answer is that while a seller’s disclosure obligations are limited, there are certain details that are required to be shared, according to provincial laws.
These disclosure details depend on the nature of any potential defects the home may have.
Specifically, Ontario law differentiates between two types of defects. These are patent defects — problems with a home that are visible to the buyer or to a property or home inspector — and latent defects which are problems that are not easily detectable, even by an expert.
Original Article Source Credits: Toronta Star, https://www.thestar.com
Article Written By: Joe Richer
Original Article Posted on: Dec. 31, 2021
Link to Original Article: https://www.thestar.com/life/homes/2021/12/31/home-sellers-and-their-agents-must-honestly-disclose-certain-defects.html