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Jun 14, 2023 · When selling a property in Canada, sellers have certain legal obligations regarding property disclosure. These obligations are in place to protect buyers and ensure transparency during real estate transactions.
Apr 20, 2021 · In certain circumstances, a seller will be able to compromise their move-out date. However, negotiating must be done before closing. If the seller chooses to stay in the home longer than the set contract date, it is the seller’s responsibility to pay the buyer or new owner rent to cover the cost.
Sep 6, 2023 · A seller must legally disclose information to a potential buyer based on their knowledge of the property. Some of the most common real estate disclosures include: Any history or evidence of asbestos. Any history or evidence of lead-based paint in a structure. Property line disputes.
Oct 25, 2024 · Preparing to Sell : Sellers typically begin by listing their property through a licensed real estate agent. A key legal consideration is full disclosure. Sellers are obligated to disclose material defects in the property, such as structural issues or environmental hazards, to prospective buyers. Negotiating the Sale : Once an offer is made, the ...
“If a seller has a legal obligation to disclose a fact to the buyer and ….” When is this? First, the Seller MUST already have a legal obligation. That means that there is no legal obligation to disclose patent defects, that is, those that are observable.
Sep 9, 2019 · Most sellers want to sell. But there are certain circumstances, such as where a significantly higher offer is received for the property, or the seller experiences an unexpected change in personal circumstances, that may lead to the seller indicating an intention not to perform the contract.
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While listing their property, sellers need to provide a property disclosure statement (PDS). This form should include any relevant information regarding the property including defects and proof of previous repairs.
