For anyone buying a home, an inspection has pretty much become an expence most home owners (or potential home owners) are willing to accept. However, some people are occationally left frustrated when they dont feel the inspection was thorough enough or they find things after the fact that they feel should have been brought to their attention. Not every time, but it happens.
Well last Monday (April 17, 2017) some new legislation was introduced in Ontario that is expected to improve the overall regulation of the Home Inspection Industry. It is intended to provide a framework of sorts. The Bill (59) is focused on the consumer experience and risk mitigation. So centering on regulation, certification of practitioners, ongoing training and insurance requirements.
So some of the improvements you may see within the Home Inspector domain are:
Improvements in the quality of inspections, resulting from regular training
Warranty coverage for areas that could be considered 'blind spots'
Carrying of Errors & Ommissions Insurance
Improved transparancy for all parties in the real estate transaction
Now how Home Inspection firms choose to address Bill 59 remains to be seen, and you should know that the implementation of this Bill should not necessarily be interpreted that there are (or were) major issues within the Home Inspection industry. However, if you consider that real estate is often-times the single largest investment an individual or family might make in their lives, and given the ever increasing price of real estate in Ontario, it is prudent for ongoing consumers protection improvements be implemented by the government.
Of course, it is always a risky proposition for anyone to rely on someone else to make sure all service providers are on the 'up & up'. You should always do your homework first, and where possible, consult with someone with experience. In the case of real estate dealings, your Realtor® should be able to help you to understand what to be looking for and/or what questions to ask of a Home Inspection candidate.
I will keep you posted on any updates I hear on this subject. All the best...