Pay Attention to the Sellers' Property Condition Report

Posted by Liliana Sorescu on Monday, August 26th, 2013 at 3:54pm.

If the home you're about to purchase here in Vancouver comes with a Seller's Property Condition Report, read it carefully.
 
This report is the seller's opportunity to make you aware of past or current problems that you might not have noticed – and that could come back to haunt you later.
 
Why would a seller disclose a problem, especially if they think it's been solved?
Some won't, but those who do have a very good reason – so that you'll go into the purchase fully aware and thus unable to come back to them later saying that they withheld information about the condition of the house.
 
Does the Property Condition Report take the place of a home inspection?
No – the wise course of action is to hire a competent home inspector – and to pay attention to his or her report as well.
 
Never be afraid to ask questions if you don't know the significance of an item on the inspector's report. You hired an expert for their specialized knowledge, so make full use of it. Further, don't be afraid to get an estimate for the cost of repairs if the report indicates a need.
 
When you work with me I'll go over these reports with you, point out which items need your further attention, and direct you to professionals who can answer your questions.
 
The time to re-negotiate the purchase of your  home is before the closing – not after – and I'll be there to help you every step of the way.
 

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