This week on CIBL’s Les Oranges Pressées, we wonder why it is better to buy or sell with the involvement of a real estate broker.
When buying or selling a property, several key players are present to ensure that the process goes smoothly: in addition to the seller and the buyer, it is necessary to call upon a building inspector, a notary and a banker. The presence of a real estate broker in addition to these professionals allows for greater transparency and protection in the event of unpleasant surprises.
However, sometimes both the seller and the buyer prefer to do without them to save money, but this decision is risky.
A few anecdotes
Here are some startling stories that happened in the absence of a broker:
A buyer who sells his house after buying a new one and learns from his notary that the seller has received a better offer and sold it to someone else without notifying the original buyer.
This seller who deletes rights from the promise to purchase, for example the right to withdraw after an inspection in the event of discovery of defects. Sometimes it is not dishonesty but rather ignorance.
In co-ownerships, many sellers are not aware that they must obtain a waiver of purchase from the co-owners before they can sell. Obtaining this document can then increase sales delays and put the buyer in difficulty.
To each his own profession
Selling or buying a property is not a simple matter. There are clauses to respect, legal knowledge to have. The broker will take an hour and a half of time with the buyer to clarify all the information and clarify the legal vocabulary.
Thus, many notaries do not like to work without a broker, because they do not know all the details of the purchase or the sale of a property. Home inspectors are there to reveal anomalies, but cannot explain what the legal issues are if the buyer wants to withdraw.
Finally, bankers do not always know how to respond to legal questions. This can result in difficult transactions.
Unfortunately, some buyers use the broker when it is too late and the only solution is to hire a lawyer.
If you are planning to buy or sell, we suggest that you contact one of our brokers for advice before taking the necessary steps. This allows you to avoid unpleasant situations!
