[What could possibly go wrong?]
There are many things buyers should consider when purchasing a new home – is it close to their work? A good school? What’s its walk score? But should a property’s past be considered as well?
If living in a house that is rumoured to be haunted, or where a traumatic death has occurred, might bother you, then yes, you should ask up front about the home’s history. There is no law in Canada that states sellers must disclose information regarding past events, so it’s up to the buyer to protect themselves.
“The law basically says to a buyer, ‘buyer beware.’ Do your homework; sellers don’t have to disclose it,” says Mark Weisleder, a Partner at Real Estate Lawyers.ca LLP, a real estate law firm in Ontario.
He does say that real estate agents, under their own code of ethics, might have to disclose whether a home has a troubled past. However, buyers nervous about an unsavoury history affecting their property’s worth should protect themselves by looking into itRead More »from Buyer boo-ware: What happens if you buy a haunted house?