Transparency is a frequent concern for real estate buyers and sellers. In Ontario, real estate disputes over this issue have caused a court battle between the Competition Bureau and the Toronto Real Estate Board. The Federal Court of Appeal recently upheld a lower court ruling that TREB, the largest real estate group in the country, must provide the public a way of accessing detailed financial data about home sales.
Finding the right professionals to help buy and sell a home can be overwhelming. One of the reasons for this is the vast difference between the services offered by real estate professionals in Ontario. To avoid real estate disputes, it's a good idea for those selling their homes to establish the exact scope of services offered and purchased from a professional prior to engaging them.
Purchasing a home can be a challenging process with many financial risks. Warranties on home deposits have caused many real estate disputes in Ontario. Tarion Warranty Corporation, which provides these protections, has announced that new regulations will give home buyers more protection on these deposit amounts. The regulations are expected to come into force next year.
Understanding the history of a home before making a purchase is important for many reasons. While some things are easy to detect, other serious issues may not emerge until after the transaction is completed. One such issue that has come to the recent attention of lawmakers pertains to houses that were once growing operations for marijuana. Real estate buyers can have trouble identifying these properties, known as "grow-ops," until after a deal has gone through.
In response to consumer concerns in multiple industries, the government of Ontario has proposed a broad consumer protection bill. If passed, the new legislation would put new fines and regulations in place for controversial commercial activities. This would include new regulations regarding real estate agents handling both sides of a deal as well as addressing perceived issues in the current home warranty system. The government hopes the bill can help to weather real estate disputes on these challenging topics.
The dangers of not having a home inspection conducting before purchasing a property is that a buyer may be unaware of a defect until he or she takes possession of the property. The question in this situation is, can the buyer sue?
Buying or selling a home can be an exciting time. Excitement can quickly turn into stress and discontent if the transaction fails to close.
When purchasing properties, new owners naturally want to protect themselves as much as possible from damage, fraud and other issues. Many Ontario homeowners try to avoid real estate disputes related to these issues by purchasing home insurance as well as title insurance. Questions often arise regarding what these two types of insurance protect, and whether both are worth considering when buying a property.
Real estate agents have a responsibility to properly represent their clients and to protect all parties involved in a transaction from fraud or mismanagement. In order to avoid real estate disputes, there are certain steps they often take throughout the buying and selling process. One of these steps is verifying the identification of their clients through a government-issued ID, such as an Ontario driver's license or passport.
When it comes to property prices, it is easy to see the basic economic principle of the market determining value. Real estate agents say some Toronto homeowners have lofty expectations of real estate prices resulting from news of high-priced transactions and lack of information about current market realities. Such real estate disputes have been common since the market peaked with extreme bidding in spring of 2017, as buyers have cooled off from their previous scramble to purchase in the region.