Pat Foran with CTV News covered a story last week about a nightmarish experience a family had after purchasing their dream home. This story serves as a cautionary tale as to why it so important to do your due diligence when buying a home.
It all started when the Song family made an offer on a home in the Halton Hills area, and much to their dismay, were outbid in competition. The Song family was contacted a few days later by the seller- who also happened to be the Listing Agent- to say the home was available, and if they still wanted the house, they were going to have to increase their offer and come in without conditions. A deal was inked without an inspection, and the Song family were delighted. However, subsequent to the family moving in, several issues arose concerning both the septic and well systems. The repair costs for both have exceeded $100,000, and the family has had to move out until the issues have been rectified. Buying a dream home in which to raise a family is a major milestone, and we truly sympathize with the Song family and everything they’re going through. As a family of Realtors buying and selling homes for many years, we always do our upmost to ensure our clients have a seamless experience from start to finish. From our wealth of experience and knowledge, here are some helpful suggestions to avoid the Song Family’s predicament.
First and Foremost, it is generally a good idea for a buyer to hire an agent to represent them in the buying process. In this case, the Song Family went through the Listing Agent and home owner. Therefore, they didn’t have an agent representing their interests in the transaction.
If a buyer is ever in a position where they have to remove a home inspection clause in order to make their offer more competitive, the buyer’s agent could book a showing ahead of the offer date to conduct an inspection with the seller’s permission. The song family could have brought in a well and septic inspector during a showing to ensure everything was in good working order before making an unconditional offer.
Finally, a home inspection clause isn’t the only mechanism to protect buyers from issues that could effect the enjoyment of the property. There are conditions beyond a home inspection that ensure the infrastructure for the home is in good working order. These conditions are especially important when offering on a rural property.
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