BC home inspectors call for cooling-off period to protect buyers in overheated market

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VANCOUVER (NEWS 1130) – As Metro Vancouver real estate continues to boom, BC home inspectors want to see more protection in place for buyers.

Home Inspectors Association BC is calling on the government to step in and do something cool off the market. It wants to see a seven-day waiting period after an offer is accepted.

President Vince Burnett says buyers are currently at great risk, without something like that in place.

“People [don’t know] what they are purchasing and are coming up against some very costly repairs they didn’t intend of having when they move in. Some people are right at the end of their budget on it.”

“People are purchasing homes and they are not getting home inspections done…. 10 per cent of the homes sold in the Greater Vancouver area and Fraser Valley are getting home inspections, so that is about 90 per cent that are being sold without inspections,” he tells us.

Burnett says that 10 per cent is down from about 75 per cent only a year ago.

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