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Canadian Real Estate/Lied on sellers declaration

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Question
Hello, my wife and I have an accepted offer on a home in Montreal. We have an agent representing us but he is not aware of what to do in this particular case. Our offer was contigent on inspection and financing, our financing has gone through but the inspector has found problems with the soil and tells us that the land is sloping into the nieghbors back yard. The home we are interested in purchasing is elevated and the land is sloping down hill, now a supporting wall holding up the land is slowly breaking and looks as if it is about to explode. The neighbour tels us that numerous letters from lawyers have been sent back and forth between him and the sellers and they are asking him to pay for half the work which was estimated at 24K. He has refused becuase he is claiming it is there land and there problem which makes sense to me. My question is since I have an accepted offer and there was no mention of all this in the sellers declaration can I insist that this be dealt with or request a reduction in price becuase I love this house and am picking it up below market value.Could I sue them if I wanted to take it that far? I don't want to lose the house but need that problem resolved. thank you

Answer
Hi Michael,
The Offer was Conditional upon a successful home inspection right? You and the Inspector have issues with the sloping land and now have a few options?
You can get out of the deal by not signing the Waiver, you can ask your Agent to ask the Selling Agent to speak to the Seller about an Amendment on the price to firm up the deal. Maybe your Agent can negotiate a price reduction of $12,000 to finish the deal? The Sellers decloration doesn't amount to much if you have hired a Home Inspector? If it looks like a good deal and you really want the house and the seller isn't moving on the price, just buy the property and fix the landscaping later and enjoy your life!! it is, what it is and you now know what you're dealing with! Good luck!  Derek

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Derek Hamilton

Expertise

Any questions relating to Residential Real Estate in the City of Toronto or Southern Ontario. How much is my home worth in todays market? What's involved in Buying Real Estate ? How much do you need for a down payment? What's involved in Buying a Condo? What's involved in Buying a Co-op? What do you need as a deposit? How to choose a good Real Estate Agent for your property? What should you do to prepare your home for the market? How much Commission should you expect to pay? What are the expenses when Buying or selling your property? Should you have your home Staged for the market? Derek Hamilton has made Toronto his home his whole life and knows better than most what the city has to offer! Use his 26 years of Award winning experience to work for you.

Experience

Residential Real Estate Sales Representative in Toronto Ont,Canada for 26 years. Award Winner for 24 straight years with Royal Lepage & Sutton Group. Prior experience was 10 years building new custom homes & Renovations in North Toronto. I have a total of 36 years experience in the Residential Real Estate field.

Organizations
I also subscribe to the Georgian Triangle Real Estate Board in Collingwood & the surrounding areas.

Education/Credentials
George Brown College "Carpentry", Continuing Education with the Toronto Real Estate Board. Member sinse 1985.

Awards and Honors
Platinum Award 2000-2008, Presidents Gold Award 2009-2010-2012, Award Of Excellence 2011 25 Year Club for the Toronto Real Estate Board.

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