Living 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.
