Home inspectors in Ontario will be licensed and subject to new standards, the government has announced.
Legislation could be in place by the fall which would mean homebuyers must be given certain information by inspectors and would also dictate the wording of contracts.
Unlike many real estate professionals, home inspectors in Ontario are not regulated by a single authority but follow rules of various industry bodies. The change would be similar to existing regulation in British Columbia and Alberta.
The Minister of Government and Consumer Services says that the new law will ensure homebuyers are given the necessary advice to make informed decisions when buying a home.
“This will also create a level playing field for the home inspection industry, preventing inspectors with little or no training from competing with qualified professionals by offering lower rates,” Marie-France Lalonde said.
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: