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Meet the Top Real Estate Agents in Barrie

Buying and selling a home can be very stressful. Choosing one of the Barrie Real Estate Agents can make your transaction smoother with less stress for you and your family. All our agents are Top Producers and Local Real Estate Experts who will ensure you find the ideal property for you and your family.

General Information about Your Real Estate Transaction

Here is some general information to assist buyers and sellers understand their rights and responsibilities when involved in a real estate transaction. This article is not designed to give specific legal advice about any part of a Real Estate transaction but to be a general guideline which can help you decide if you should involve your Real Estate Lawyer for your protection or just for legal advice.

Patent and Latent Deficiencies in a Home

A patent defect is a deficiency in a home that is easily observable, such as a cracked window, a missing door or water leaking into basement. Sellers are not required to disclose patent defects to potential buyers, so the onus is on the buyer to find them. That’s why most Real Estate Agents encourage buyers to hire an experienced home inspector to examine the proposed house, and to make any offers conditional upon the satisfactory completion of a home inspection.

A latent defect is not readily observable, and might not be discovered during a visual examination of the property — even by an experienced home inspector or other expert. (Keep in mind that a typical home inspection is a visual assessment of a property’s condition, and it doesn’t involve removing floorboards or drilling holes in the walls to inspect spaces hidden from view.)

Examples of an latent defect could include major problems with the home’s foundation that are not visible, wooden support beams that are rotten or a pipe that leaks water behind the drywall. This is where the actual experience of your chosen Professional Home Inspector can be invaluable. Years of experience will allow a trained Home Inspector to find symptoms of hidden issues and make an educated guess as to their cause. Your Professional Home Inspector can also provide you with information about future problems that may arise due to methods of construction which are known to have future structural or repair issues. Contact the Barrie Home Inspector for answers to any questions regarding the Home Inspection Process.

Sellers must disclose latent defects that they know about, and which could make a home dangerous or unfit for habitation to potential buyers. Sellers also cannot actively conceal a latent defect that renders the property dangerous or uninhabitable. If a seller does not disclose a latent defect, they put themselves at risk of being sued by the buyer.

When you’re ready to buy a home, I strongly recommend working with a registered real estate salesperson or broker who can help you create a list of questions to ask the seller’s representative.

The Real Estate Council of Ontario doesn’t regulate the actions of buyers or sellers, but our code of ethics forbids real estate salespeople from knowingly making any inaccurate representations about a property. They must also take reasonable steps to determine and disclose to their own client all facts about a property that might affect a buyer’s decision to purchase.

Remember to always exercise your own due diligence before you make an offer. Again, as a seller, it’s particularly important to understand what you must disclose to a prospective buyer; a real estate lawyer can help if there is any uncertainty.

Ensure your broker or salesperson is registered

In Ontario, in order to trade in real estate, brokers and salespersons must be registered under the Real Estate Business and Brokers Act, 2002 (REBBA). Before you begin working with a real estate broker or salesperson make sure you confirm that they are registered by using the Real Estate Professional Search feature. This will tell you what Qualifications your Realtor has and what Brokerage they are Registered with.

The information available to you includes the registration status, the current expiry date of registration and regulatory activities related to the brokerage, broker or salesperson, such as:

- Registrar’s Proposals to refuse, revoke, or suspend or apply conditions to a registration
- Charges under REBBA and related convictions
- Immediate suspensions ordered by the Registrar
- Decisions of Discipline and Appeals Panels related to ethical conduct.

Education, Knowledge and Experience

All brokers and salespersons are required to complete educational courses prior to becoming registered and are also required to take continuing education courses. Many brokers and salespersons pursue ongoing professional development opportunities, obtain membership in professional associations and attend industry events on a regular basis. While consumers buy and sell real estate infrequently, most brokers and salespersons are engaged in these activities on a daily basis.

Consumer Deposit Insurance

All brokers and salespersons are required to be insured. The insurance program administered by RECO includes consumer deposit insurance. The coverage that protects your deposit is available under the insurance program at no cost to you. In the event of fraud, misappropriation of funds or insolvency there is coverage available to consumers of up to $100,000 per claim to a maximum of $3,000,000 per occurrence, effective September 1, 2016. If the deposit is being held by your lawyer, you should contact the Law Society of Upper Canada to determine what insurance protection may be available.

Complaints & Enforcement

All real estate brokers and salespersons are required to comply with REBBA and associated regulations, including the Code of Ethics. RECO addresses inquiries, concerns and complaints about the conduct of brokers and salespersons and takes appropriate action to protect the public interest.

Why Use a Military Mortgage Broker

Using a military mortgage broker offers specialized expertise tailored to the unique financial situations and needs of military personnel. These brokers understand the intricacies of DND Mortgages, military housing allowances, and other benefits available to service members, ensuring borrowers make the most of their options. Additionally, military mortgage brokers often have relationships with lenders experienced in working with military clients, potentially leading to more favorable terms and rates. Ultimately, entrusting your mortgage process to a military-focused broker can streamline the homebuying experience and provide personalized guidance every step of the way.

Military and RCMP personnel should contact a military mortgage broker for specialized assistance tailored to their unique financial circumstances and benefits. These brokers possess in-depth knowledge of VA loans, military housing allowances, and RCMP relocation benefits, ensuring service members make informed decisions and secure the best mortgage options available to them. Call today to find out information about a Military Relocation Mortgage.