Some East Vancouver sellers worry that if they reveal certain information about the property that they are selling, buyers won’t be interested buy it. This sometimes happens, and the result is a property that stays unsold for a very long time in the East Van homes for sale market. However, there’s no way around it, because in Vancouver, homeowners listing a property for sale needs to complete a detailed residential Property Disclosure Statement (PDS).
All potential deal breakers must be lifted
Real estate disclosure laws dictate what a home seller needs to disclose. The PDS lists potential problems that could be deal breakers in the sale of the home including the use of asbestos in the insulation, illegal renovations, unregistered easements, and even non-tangible qualities that may elicit negative psychological or emotional responses on the part of a potential buyer, such as a death and other disturbing facts about the home’s history. Read more from this blog.