Jonathan Sheppard, a home inspector in B.C.’s Lower Mainland and president of the Home Inspectors Association BC, says the practice spiked toward the beginning of the pandemic as home sales started to rise, but by the time sales peaked during the pandemic, business was “dead” as frantic buyers were forgoing all conditions in an attempt to win bidding wars.
recent legislation by the B.C. government to introduce a three-day cooling-off period for home purchases in 2023 “Buyers have this mentality that they’re doing you a favour by giving you this offer, so they’re going to include every possible condition,” said Ms. Ali. “It’s a buyer’s market, there’s no doubt about it.”She says the trend is benefiting buyers in the suburbs and exurbs in particular, since listing agents in larger markets like Toronto had already started to produce their own inspection reports up front in an attempt to promote a sense of confidence during bidding wars on older properties.
When the market was hot, it was common for home inspectors to be hired after a purchase, and the results could be gut-wrenching for new owners. Mr. Weeks says it’s also important for home buyers to be judicious when picking an inspector, especially in provinces like Ontario, where there isn’t a provincial regulating body for the profession. Consumers in such provinces could opt for CAHPI-certified inspectors, who have to pass a rigorous test.
He added that home buyers should consider an inspector before they pick a home, so that they have time to do their due diligence when researching and aren’t in a rush to book the first available inspector.