Short answer
Stop relying on verbal explanations and preserve the evidence. Tell the Realtor and lawyer immediately, record what was represented, when and by whom, obtain qualified evidence of the true condition, and do not threaten, repair, waive or refuse to close without legal advice. Options differ sharply before conditions are waived, after a firm agreement and after closing.
The buyer concern behind the question
The buyer discovers an inaccurate statement shortly before closing and tries to solve it through angry messages or a side agreement. That can weaken evidence or create a new contractual problem.
A practical Ontario example
Illustration only: A represented “legal basement apartment” cannot be verified before closing. The Realtor gathers the listing and messages, Rajiv recalculates the mortgage without rent, and the lawyer advises on requisitions, amendment, holdback, completion or other remedies based on the contract and evidence.
Questions to ask before becoming firm
- What exact written or oral statement was made?
- Was it material to price, consent, financing, insurance or intended use?
- What independent evidence shows the statement is inaccurate?
- What stage is the transaction at and which deadlines remain?
- What does the lawyer advise before the buyer acts?
Practical routes to compare
- Preserve listings, statements, reports, photographs and messages.
- Notify the lawyer and relevant professionals immediately.
- Re-test mortgage, appraisal and insurance if the property facts changed.
What each professional can and cannot decide
The Realtor investigates and communicates property facts within the real-estate mandate and advises on offer strategy. The inspector or specialist assesses condition within a defined scope. The lawyer interprets disclosure duties, title, contract language, evidence and remedies. The insurer decides coverage. The appraiser reports value and marketability for the assignment. Rajiv tests qualification, lender property acceptance and closing consequences. RECO regulates Ontario real-estate professionals; it does not set lender underwriting policy. FSRA regulates mortgage-brokering conduct and certain financial sectors; it does not approve the mortgage or create one universal lender policy.
Mortgage and closing consequences
Changed property facts can affect usable rental income, appraisal, insurance, marketability, repair conditions and the amount a lender will advance. Start with a suitable A lender when the borrower and property meet policy. An alternative lender may take a broader view at a higher rate and fee, but still needs acceptable property and evidence. An institutional MIC or private lender may provide a flexible short-term route, including interest-only, amortized, open, partly open or maturity-matched structures in some cases. That route is not an automatic rescue: equity, total cost, legal advice and a credible exit back to suitable A or B financing must be tested.
Verified public guidance
RECO’s disclosure guidance explains agent duties where a seller is legally obligated to disclose, but legal liability and remedies depend on the facts, evidence, contract and law. RECO guidance is not a substitute for a buyer’s lawyer.
Read the primary source. Source checked 2026-09-03. The regulator explains professional obligations and consumer considerations; the lawyer determines legal advice and each lender and insurer applies its own policy.
Pressure-test this answer
The answer may change if the seller did not know the fact, the concern was visible, the buyer received warning signs, the wording was only marketing opinion, records contradict the statement, the defect was concealed, or the agreement allocates the risk differently. A representation can also be important without creating the remedy a buyer expects. Ask what is known, what is assumed, what evidence is missing and which professional is qualified to decide it. Before waiver, compare the cost of investigation with the buyer’s worst reasonable post-closing exposure. After a firm agreement, let the lawyer direct the response.
Evidence and documents to keep
- Listing, photographs, virtual tour and feature sheets
- Offer, schedules, amendments and condition deadlines
- Seller information statements and written questions and answers
- Inspection, specialist, municipal, permit and insurance records
- Rental or service contracts, invoices and warranties
- Emails, texts, appraisal or lender requirements and lawyer correspondence
Related AskRajiv guidance
Continue with seller disclosure material facts home buyer ontario, final walkthrough before home closing ontario.
Get the property facts aligned with the mortgage
Use Rajiv’s direct mortgage strategy form. Include the property concern, purchase price, closing date, current conditions and documents already available.
Source and review
Reviewed by Rajiv Verma, Mortgage Broker on 2026-09-03. Educational information only; not legal, real-estate, inspection, engineering, environmental, insurance, appraisal or mortgage approval advice.