New Rules And Regulations Proposing Home Inspector Licensing in Ontario
The Government of Ontario is proposing licensing legislation for home inspectors in the province. The new rules and regulations will govern home inspection companies, but will also provide added protection for the consumer with a mandate for liability insurance. Simply put, the new law (the Licensed Home Inspectors Act) will prevent home inspection without a proper license.
The new licensing requirements will dramatically change the landscape for the home inspection industry. For professional home inspectors, regulations will establish and reinforce the standards that will guarantee protection for the consumer. Licensed home inspections will benefit both the home seller and homebuyer, and once instituted, the real estate industry will also reap benefits.
With added insurance provisions, the Licensed Home Inspectors Act will reduce the liability risks for buyers and sellers, and will practically do away with the potential for a substandard home to be sold. Licensing will also permit professional home inspectors to be supervised by a governing body, further allowing consumers to present complaints/protests in a structured environment.
In a well-regulated industry, licensed home inspectors will have the correct type of insurance and the appropriate minimum amounts for effective coverage. In addition, a well-funded supervising body will almost immediately separate the professionals from the non-professionals. It will allow for higher standards of performance and set new benchmarks for the industry as a whole.
The Licensed Home Inspectors Act also provides for the oversight of conduct for inspectors. This will permit for investigative work in the event of malpractice, along with disciplinary follow-up, where required. Here again, home sellers and homebuyers can rest assured that their real estate transaction is legally backed by a home inspection that is comprehensive and trustworthy.
One of the most important aspects of the new legislation is that technical standards for inspection will be much better defined. Home inspection reports and legal contracts would be standardized in order to protect clients throughout the entire real estate transaction. As for the new insurance requisites, there is added risk protection for industry professionals and consumers alike.
The Licensed Home Inspectors Act will benefit every homebuyer
Today, astute homebuyers will almost always request an in-depth home inspection. Licensed inspectors can provide an assurance that everything is in order, and continue to be so in the long run. High quality inspection protocols, governed by industry wide regulations, will protect all - the buyer, the seller, the real estate agent, and the inspector. In a home sale, this is particularly relevant when problem areas are observable, but causes are unknown. This is where a highly proficient home inspector can be of value in determining the source and cause of a problem.
The Licensed Home Inspectors Act will benefit every home seller
For those selling a real estate property, professional home inspection can make a big difference, even with the sale price. The benefit of detecting a problem area before a sale is definitive, mainly because surprises and revelations are avoided, and stressful situations are averted. With a good inspector on hand, potential repairs and retrofits can be addressed prior to sale, and the quality of the property is enhanced. Clearly, being able to remedy problem areas in advance is going to have an impact on the selling price, and in most cases that impact will be positive for the seller.
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