FACTORS OF A LATENT DEFECT
Status of seller:
- Is the seller a first time seller?
- Is the seller a professional investor in the real estate industry?
- Is the seller a real estate broker or agent?
- Has the broker or seller declared his/her status as a professional?
Status of buyer:
- Is the buyer a professional investor in the real estate industry?
- Is the buyer a real estate broker or agent?
- Has the broker or buyer declared his/her status as a professional?
Characteristics of the property:
- How old is the house?
- Is the purchase price of the property below or above market value?
- Where is the property located?
- What is the nature or characteristics of the property?
Information obtained prior to purchase:
- What is the information obtained from the seller prior to purchase?
- Did you receive a pre-inspection report of the sellers when they bought the property prior to purchase?
- Did you receive a thorough seller’s declaration?
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The above noted text should not be construed as providing legal advice or a statement of your claim. The process highlighted above are merely parameters and barometers and do not constitute any warranties and guaranties with regards to your file at hand. We strongly recommend that you seek legal advice with a licensed attorney from the Barreau du Quebec or a notary at the Chambre des Notaires. Each case must be seen and analysed on its merits as the legal process may be complex and cumbersome.