A West Vancouver house in Altamont required a home inspection. In this case the insurer not the buyer needed the inspection report. Although the buyer had purchased it for “lot value” and was to be torn-down, it was going to remain tenanted for a period of time after the purchase. As a result, the insurer required the report.
An offer was made on a home in West Vancouver, by walking on the lot but without the buyers entering the dwelling. Since it was being purchased for redevelopment (tear-down), there was no need to see the building close-up or the interior.
However the property was rented and the term of the rental agreement would expire well after the possession date. With just days to closing, we received a call requesting an inspection to satisfy the requirements of the insurers.
Initially the real estate agent was of the opinion that only a minimum “insurance inspection” was needed, not a complete inspection. As we did not know what that was, we called the insurance agency and sure enough their requirements was for a standard BC s home inspection.
With only 48 hours to closing, the property inspection was conducted and the inspection report issued, to the satisfaction of all parties.
Even if a property is purchased without the condition of “purchase subject to home inspection”, there are circumstances when that inspection will still be required by a third party.
