What is the law on “buyer beware” in real estate transactions?
British Columbia, Canada
The following excerpt is from Taylor v. Larbi et al, 2019 BCCRT 1165 (CanLII):
20. In a real estate transaction like this one, the buyer is expected to make reasonable inquiries and conduct a reasonable inspection of the property. Unless the seller breaches the contract, commits fraud, or fails to disclose a latent defect of which it was aware, the buyer assumes the risk for any defects in the condition or quality of the property (see Nixon v. MacIver, 2016 BCCA 8). This is the principle of “buyer beware.”
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