The great thing about blogs is that I get to say what I want to say, without any interruptions.
The thing that I don’t like about blogging is that I don’t get to see the people that are reading my blogs! So I don’t get to greet you in person!
Anyway, on a more serious note… If you’ve been following my last 2 blogs, Ive been sharing with you some information on Homeowners Insurance, and how it can impact your purchase of your new home, and or financing your home!
Today I’d like to talk a little about the problems that moisture can cause specifically MOULD! Although it’s impossible for mould to be non-existent in any indoor environment and Insurance Companies are constantly tightening their policies and changing how they do business. Extreme cases of mould could result in major renovations where the mould has weakened the structure of the house or the condominium! Some Insurance companies are taking steps towards limiting coverage for mould damage!
Mould has been known to be a health hazard, however scientific research suggests that the relationship between health concerns and mould is inconclusive, currently their are no established standards for acceptable levels of mould…
All Realtors must disclose any knowledge of mould or any health hazards that may exist prior to the sale of a house/condominium.
If you are a seller, I would advise you to disclose any water or related problems that you are aware of. If you are a seller, I would advise you to be aware of this issue.
I’m not trying to SCARE YOU, JUST TO INFORM YOU!
To comfort you and set your mind at ease a bit, I should also tell you that in Canada we haven’t seen an explosion of mould related issues as they have seen south of the border with our neighbours in the U.S. From 1995-2002 we had less than 30 mould lawsuits in Canada including 2 failed class actions.
So we are safer than they are down in the States! Just one more reason to have a Realtor by your side when purchasing or selling Real Estate!
Again, my intentions are not to scare you, but rather to equip you with what is necessary when dealing with Real Estate here in Canada and specifically the GTA…
A good friend once told me “Do good when you can and never do any harm!”
Manjit Virk
Sales Representative with Signature Service GMAC Real Estate
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