December 13, 2013 The Ministry of Consumer Services released a report on the home inspection industry.
What is unknown to most home buyers is that home inspectors in Ontario are not regulated or licensed.
The report states “Currently anyone in Ontario can call themselves a home inspector. Many consumers depend on the opinions of their home inspector to make what is often the largest purchase decision of their lifetime.”
Often, a condition is included in the offer to purchase property only to be removed after the buyer is satisfied to the condition of the home as a result of a home inspection usually conducted by someone they perceive as a “qualified” home inspector. As most consumers and Realtors are unaware of the lack of regulation of the home inspection industry and unless the consumer has the time and ability to interview potential home inspectors, they may or may not receive quality and knowledgeable service.
Many home inspectors make the effort, take courses and have the experience and background to provide excellent non-biased service which allows the buyer to make an informed decision regarding the finalization of their purchase agreement. However, there are also many inspectors who possess little to no related experience or training leaving the buyer either misinformed or faced with a difficult decision. Buyers can also be misled into thinking they have made a sound purchase only to find after possession that important property defects have been missed by the home inspector and they may be left with costly repairs.
Regulation of this industry is imperative. The Ontario Ministry of Consumer Services has studied these very issues and has made numerous recommendations to rectify this situation.
Here’s the link to more info; http://ow.ly/rXOtg
