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clients across Canada since 1987

Aug 17, 2017

Real estate disclosure is the most common reason agents are sued

Buying or selling a property is one of the biggest decisions many Canadians make. With the competitive nature of the Ontario real estate market, people on both sides must be able to trust that the high prices and quick closures are backed by complete honesty and legality. Real estate disclosure is a vital part of this process. Real estate agents who mismanage this process, either purposefully or by accident, may find themselves in court.
 
In fact, the majority of legal cases against real estate agents across the country involve failure to disclose. People with little real estate experience, or those who are new to Ontario and may not speak English are at particular risk. However, even an experienced home buyer could be stuck in a bind if serious problems with the property are not disclosed. Real estate disclosure issues are the most common cause of lawsuits against real estate agents.

On the other hand, some may misunderstand a contract or a disclosure. This puts a real estate agent at risk of being sued even though he or she may have done everything legally. The stance of Real Estate Council of Ontario (RECO) is that it is a buyer's responsibility to educate him or herself before signing a contract with a real estate agent.

While most many transactions take place across Ontario every day without incident, issues with real estate disclosure can often end in a lawsuit. There are many legal complexities on both sides of such issues. Both for people looking to potentially sue a real estate agent or for an agent facing legal action, a lawyer experienced in real estate law is an important asset at every step of a dispute

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