Thinking of buying a home in our red hot real estate market this Spring? Be warned that home inspectors are not currently regulated in Ontario. Graham Clarke, President of the Canadian Association of Home and Property Inspectors believes “there is a very significant risk that a consumer can hire a home inspector who does not have adequate education, training or experience to do the job properly.” [See Globe and Mail article]
Fortunately, it appears that the provincial government is planning to introduce legislation to regulate the industry by the end of 2016. Recommendations include having inspectors pass a written exam and a field test in order to become licensed.
Jody Keats, a local realtor with Exit Realty Hare (Peel) says that “having some form of regulation over every industry that is involved in the transaction of the largest asset you will ever own is certainly a wise decision.” Whether its your Realtor, Mortgage Broker, Home Inspection or legal representation, Keats adds that “they should all follow strict guidelines, regulations, and should be held accountable for their actions.”
When asked if regulations alone will fix the problem, Keats says “the unprofessional in the industry may still provide careless work, which could end up costing Homeowners thousands in the end.”
“Regulating Home Inspectors is a wonderful idea and a great first step.” – Jody Keats, Realtor with Exit Realty Hare (Peel)
It is important that buyers still do their research and verify that their Inspector is experienced, has an online presence with genuine reviews, and comes highly recommended with referrals that can be contacted. It may not be the best choice to go with your realtor’s recommended Inspector. Inspectors want on-going referrals from realtors so they may be hesitant to point out flaws that could jeopardize a sale and limit further referrals from your realtor.
Don’t be afraid to ask questions and conduct your own due diligence when selecting your Real Estate Team. Always know who and what you are dealing with, especially when making the largest investment in life.