${site.data.firmName}${SEMFirmNameAlt}

Before You Buy Or Sell A House, Read This! (Or You Can Expose Yourself To Unnecessary Risk)

Even before the offer was submitted, there were some concerns about the house. For example, the foundation was sinking, a fact that could be seen with the naked eye.

The real estate agent, who acted for both the seller and the buyer, gave Zoriana a copy of the Seller Property Information Sheet (SPIS). The SPIS is a document prepared by the vendor which discloses information about the property. In this case, the SPIS prepared by the seller, with help from the real estate agent, said that the foundation problems had been resolved years earlier. This turned out to be untrue.

The SPIS also disclosed that there were no plumbing problems. This too was untrue; the system backed up at least twice a year.

Once Zoriana moved into the house she discovered, to her horror, the entire north foundation wall and the northern portion of the west foundation wall of her dream home had settled, and continued to settle, to the point where the very stability of the house was in jeopardy. At the same time, the plumbing problems were also discovered.

In the end, to make it safe and habitable, the house had to be jacked up and removed from the crumbling foundation and then replaced atop the new foundation.

Zoriana had originally paid $110,000.00 for the house. The actual cost of repair was $191,414.94. Ouch!

Not surprisingly, the Court of Appeal found that the sellers were liable to Zoriana. They also found the real estate agent liable.

So, what's to be learned from this dream purchase gone horribly wrong?

Lesson to be learned? If the sellers had spoken to a competent real estate lawyer, they would have been advised as to the importance of accuracy in making any representations about the condition of their house.

Additionally, if the buyer had spoken to a competent real estate lawyer prior to making an offer, they would have been cautioned about submitting an unconditional offer without first obtaining a home inspection report.

The Ross Firm has years of experience, involving thousands of successful real estate transactions. We know the pitfalls. We know real estate law.

Give us a call.

Talk to us.

We can help.

No Comments

Leave a comment
Comment Information

shameless self promotion

  • Quinn Ross Takes Office As President Of The Ontario Bar Association

    The Ontario Bar Association (OBA) is pleased to announce Quinn Ross as the 83rd President of the OBA.

    Ross, Managing Partner of The Ross Firm, with offices in Goderich, Kincardine and Stratford, has been an active member in senior roles on the OBA board since 2012.

    Read More

  • Ross Firm Golf Tourney In Support of Huron Women’s Shelter a Swinging Success

    On behalf of the Huron Women’s Shelter and The Ross Firm P.C., we say “THANK YOU” to our many Sponsors and Donators for their outpouring of generosity and support for the annual Take a Swing Against Violence Golf Tournament held at Goderich Sunset Golf Club.

    Read More

  • Who needs a Will? You do!

    Our guests can explain why. Are you single and renting? A new Family? Or Homeowner? Enjoying your Golden Years? We all need a Will and our guest speakers will show you the why and the way.

    Read More

  • Take a Swing Against Violence

    On June 21, 2017, the Huron Women’s Shelter Second Stage Housing and Counselling Services, Board of Directors and The Ross Firm will be hosting the Taking a Swing Against Violence golf tournament at the Goderich Sunset Golf Course.

    Read More

View All

Send Us An Email. Talk To Us. We Can Help.

To schedule a consultation with one of our experienced lawyers, contact The Ross Firm online or give us a call toll free at 888-567-4917.

Contact Us

Goderich Office
144 Courthouse Square
Suite 100
Goderich, ON N7A 1M9

Toll Free: 888-567-4917
Fax: 519-524-8438
Map & Directions

Stratford Office
1 Ontario Street
2nd Floor
Stratford, ON N5A 3G7

Toll Free: 888-567-4917
Fax: 519-814-5533
Map & Directions

Kincardine Office
943 Queen Street
Kincardine, ON N2Z 2Y8

Phone: 226-396-5532
Fax: 226-396-5533
Map & Directions