Toronto Real Estate: Listing details should be double checked
March 19, 2014
Here’s an interesting question asked of RECO’s registrar, Joseph Richer.
As a buyer, how do I know the information from the online listing is accurate? If it isn’t, is there anything I can do about it?
Having been in the business for many years, I can tell you that the vast majority of errors in listings are inadvertent and are cleared up either when viewing the house or when a home inspection is performed.
But what do you do when a seller has either missed something major or willfully misled the agent? According to Richer, “If you find an inaccuracy in the listing after your offer has been accepted, seek the advice of your real estate professional and lawyer. They may be able to work with the seller’s representatives on some price adjustment or other remediation. If not, it may become a matter for the courts.”
One disadvantage of being a buyer in Toronto is that detached and semi-detached homes are in such high demand that even when listings include phrasing like ‘Please leave the kids at home when coming for a visit,” and “Not for the faint of heart,” it doesn’t prevent bidding wars.
Click here for Joseph Richer’s article