Getting professional help for your purchase or sale


ProfessionalLiving in the digital age, we often go straight online to find information about products or services we are looking for. My husband and I picked our honeymoon destination based on reviews of the best places to travel in November; however, after choosing the location, we then met with a travel agent to work out the details of the trip.

I think that is the key point: basic information is easy to find online, but for the finer details, it’s best to hire a professional. The same goes for buying or selling a house, or getting a mortgage. RECO (the Real Estate Council of Ontario) did a survey last fall that showed that there is a clear knowledge gap between the law on buying a house and what people think. For example, 36% of Ontario homeowners believe that there is a cooling-off period after signing a purchase agreement, during which they can cancel the agreement for any reason. In reality, once you sign, only failing a condition can get you out. 55% of homebuyers believe that they will automatically get their deposit back if the agreement is cancelled; in fact, it requires a mutual agreement from both parties, failing which the buyer will have to get a court order to have the payment returned.

Knowledge is power. Unfortunately, the internet is full of both true and false information. Getting professional advice means you get to the truth.