As the closing date approaches, buyers find themselves busy with final preparations for the purchase of their new home –  making sure their mortgage loan is ready to fund, booking their movers, setting up telephone and utilities, meeting with their lawyer to sign documents.  In many cases, buyers have already used their allowed visits in order to take measurements of their future home, and to show family and friends around.  What buyers should not neglect is the importance of making one final inspection of the home, as close as reasonably possible to the closing date.  The purpose of this visit is to verify for themselves that the home is and will be in the same condition as when they signed their agreement to purchase it, subject to normal wear and tear.  In some cases, it is only right before the closing date that buyers are able to really inspect all the areas of the home, when the seller’s furniture and personal belongings have been packed up or moved.  Buyers do not require a specific clause in their agreement in order to request an opportunity to conduct their final inspection – our courts have acknowledged such a right in the case of Harkness v. Cooney (1979 131 DLR 765).  The benefit of conducting their final inspection before the purchase is completed is to allow an opportunity for the buyers to make arrangements with the seller to rectify any defects discovered, before the closing funds are released.

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Toronto, ON M4V 1L5

Phone: (416) 863-0125

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