A Home Buyers’ Bill of Rights A Home Buyers’ Bill of Rights A re-elected Liberal government will: Create a national Home Buyers’ Bill of Rights so that the process of buying a home is fair, open, and transparent. Convene federal and provincial regulators to develop a national action plan to increase consumer protection and transparency in real estate transactions. The Home Buyers’ Bill of Rights will: Ban blind bidding, which prevents bidders from knowing the bids of other prospective buyers, and ultimately drives up home prices. Establish a legal right to a home inspection to make sure that buyers have the peace of mind that their investment is sound. Ensure total transparency on the history of recent house sale prices on title searches. Require real estate agents to disclose when they are involved in both sides of a potential sale to all participants in a transaction. Move forward with a publicly accessible beneficial ownership registry. Ensure banks and lenders offer mortgage deferrals for up to 6 months in the event of job loss or other major life event. Require mortgage lenders act in your best interest so that you are fully informed of the full range of choices at your disposal, including the First Time-Home Buyers’ Incentive. Share
