Foreword
When undertaking to purchase a property, the potential buyer needs to consider any factor that may affect the property, including environmental hazards.
An environmental phenomenon can have enough of an impact to jeopardize a transaction. For example, the transaction is threatened if the buyer’s plans are impossible to carry out due to safety or compliance reasons, because the existing facilities cannot be modified or the change has an impact on the health of the property’s occupants. The buyer must therefore act with caution and diligence.
When a broker properly verifies elements that may be tied to environmental hazards, recommends appropriate tests, and adequately fulfills his advisory role based on the needs of his clients, he protects the parties to the transaction and the transaction itself.
Environmental issues are currently the subject of much study and research. Public awareness is evolving in this area, and this guide dealing with environmental issues is intended to address this growing awareness.
► WARNING
In carrying on his activities, a broker or agency executive officer must take into account his skills, the limits of his knowledge and the means at his disposal. In accordance with section 73 of the Regulation respecting brokerage requirements, professional conduct of brokers and advertising, he may not engage in a brokerage transaction that is outside of his field of expertise without seeking assistance from another licence holder who has the necessary skills.
