Latent Defects: 5 Common Examples
After much deliberation, you decided to turn to the existing home market instead of buying a new home. This option clearly has its share of advantages, but there are also a few downsides. Some may fear the unpleasant surprises that an older home might harbour, such as latent defects. Before you panic, you need to know how to spot a latent defect.
To help you with this, we’ve listed a few common examples of latent defects below. Note that these are only examples. Of course, the defect must be latent (hidden). More specifically, it could not have been discovered by a prudent and diligent buyer, i.e., there was no indication of its presence during visits prior to purchasing the property. Click here for the full definition of a latent defect.
If you think you have latent defects, please contact an expert as soon as possible.
1. Rot in the attic
2. Major foundation cracks that are not visible
3. Mould in the walls
4. Faulty electrical wiring
5. Exterior cladding showing premature wear
Avoid unpleasant surprises by protecting yourself from latent defects!
Before buying or selling, it’s best to protect yourself against unpleasant surprises caused by latent defects. The Integri-T guarantee, exclusive to RE/MAX, is a guarantee offered to buyers and sellers who want to protect themselves against latent defects. This unique coverage provides financial protection to buyers and sellers in the event of a claim.
Contact your RE/MAX broker for more information.
Visit remax-quebec.com/en/integri-t/index.rmx for full details.