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Tom B.
Tom B., Barrister & Solicitor
Category: Canada Law
Satisfied Customers: 2263
Experience:  25 years in practice
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My wife and I made an offer on a house which was accepted.

Customer Question

My wife and I made an offer on a house which was accepted. We have until 16:30h today EST to lift the conditions on the house. Our financing is already taken care of. The house has failed inspection due to a failure in the air quality test I ordered. There is no visual source of mould, I just wanted to be sure. We are meeting the seller's real estate agent today at 10:30h EST. The seller's agent is also our agent. I would like a price reduction in order for us to investigate and remedy the problem, if there is any (the house is very dirty). What I need to know is if we ask for a price reduction, what happens at the 16:30h deadline today ? Is our offer null and void and we would have to write up another offer ? If so, I am concerned that there are other bidders waiting to jump on this house.
Submitted: 1 year ago.
Category: Canada Law
Customer: replied 1 year ago.
the house is an estate sale, and it is a bit of a mess cosmetically. There are very stained 35 year old carpets everywhere and two bathrooms are not functional and the kitchen needs to be changed. We knew this before we made the offer. The "bones of the house" are excellent and there is no insect or rodent issue at all. I ordered the air quality test as a condition when I made the offer to purchase the house. I had no particular reason to order the test, in other words, I had no suspicion, and neither did the agent. The test was done in the basement and revealed mold, and although the levels are moderate, it is still a reason for concern according to the 8 experts I have spoken to. Therefore, my approach today with the agent will be one of the following;1. walk away from the deal - the house failed inspection (least favored option)
2. get a price reduction
3. ask for more time to do more tests to find the source of the mould. I doubt the agent will let me do invasive tests, so the validity of the tests is questionable.Option #2 is what I am aiming for, but the house is a desirable house, in a very desirable location in the province of Quebec. We are quite educated concerning the market in the region, and are certain that there would be a lot of interest in the house. The house was listed at $325,000, and our accepted offer was at $300,000. The municipal evaluation is $325,000, which is low for the house for some reason.
Expert:  MHPC replied 1 year ago.

If you choose Option 2, you might want to ask the seller to remedy the problem so that the air quality inspection passes OR get quotes for the remedial work and ask your seller to fulfill the work failing which the price will be reduced by the amount of the most desirable quote. I assume that if you got an air quality test in the first place, you must know contractors who bring homes into compliance with air quality standards.

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