A year ago around 75 per cent of homes sold in Greater Vancouver and Fraser Valley were inspected before the deal closed; this year it’s as low as 10 per cent.

Home inspector Vince Burnett told the Vancouver Sun that after 17 years in the business he would expect to be busy given the heat in the market but he hasn’t inspected a home for 2 weeks.

Burnett is president of the Home Inspectors Association of BC and warns that skipping an inspection puts buyers at risk of huge repair bills and the association wants the government to introduce a cooling off period of 7 days as deals are frequently happening so fast.
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate


More market watch: