Answer
Identify every rental, lease, service contract and financed fixture before the offer becomes firm. Confirm the provider, payment, remaining term, transfer or buyout cost, registered interest and whether the buyer must assume it. A water heater, furnace, HVAC system or other fixture can create a contract obligation that is easy to miss in the purchase price.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
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Answer
“Professionally renovated” is marketing language until the buyer sees useful evidence. Ask who did the work, what permits and inspections were required and closed, whether plans, invoices and warranties transfer, and whether the current use is legal. The Realtor can request records, but the municipality, trades, insurer, lawyer and lender may each need to confirm a different part.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
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Answer
Find out where the fire started, how extensive it was, which structural and mechanical systems were affected, who designed and completed repairs, what permits and inspections closed, and how insurers and lenders view the property now. Cosmetic reconstruction does not by itself verify structure, wiring, smoke contamination or permit completion.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
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Answer
Do not stop at whether cannabis was once present. Determine the scale and use, alterations, moisture or electrical impact, municipal or police records, remediation, permits, air-quality or environmental evidence, insurance availability, appraisal response and lender acceptance. A remediated property may still be treated differently by different lenders and insurers.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
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Answer
Ask what happened, when, how often, where the water came from, what was removed, who repaired it, whether insurance was involved and what prevents recurrence. A dry basement during one showing does not answer flood history, drainage, sewer backup, mould, insurability or future repair cost.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
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Answer
Not necessarily. A stigma can be personal and may not be a physical defect or a fact the seller is legally required to volunteer. If a death, crime, alleged haunting, neighbourhood event or another history would affect your decision, tell your Realtor exactly what matters and authorize specific written inquiries before making the offer firm.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
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Answer
A Seller Property Information Statement can reveal useful history, but it reflects the seller’s knowledge and the questions asked. It is not a warranty that every answer is complete or that no defect exists. Read every response and qualification, compare it with inspection and records, ask follow-up questions, and have the lawyer review any statement that materially affects the purchase.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
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Answer
A patent defect is one a buyer or inspector could generally identify through reasonable observation and inquiry. A latent defect is hidden and not readily discoverable; disclosure obligations become especially important where the hidden defect makes the property dangerous, potentially dangerous or unfit for habitation. The label can be legally disputed, so buyers should investigate rather than plan to argue about it after closing.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
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Answer
A seller is not required to volunteer every flaw or every fact a buyer may care about. Certain serious hidden defects and other facts the seller is legally obligated to disclose must be addressed, while visible defects usually remain part of the buyer’s own investigation. The practical rule is not to rely on silence: ask precise written questions, inspect, verify records and have the lawyer review anything material.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
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Answer
A buyer may qualify personally while the property does not. Serious condition, safety, access, zoning, insurability or marketability concerns can reduce appraised value, create repair conditions or make a lender decline the property. Inspection, appraisal and insurance answer different questions and should be coordinated.
Reviewed by Rajiv Verma, Mortgage Broker · Sep 2, 2026
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