Business Law, Real Estate Law

Real Estate Brokers Need To Tell You Everything They Know

Feb 1st, 2013

When it comes to real estate, make sure your broker is fulfilling their obligation in telling you the whole truth and nothing but the truth.

A recent story by Allison Lampert from the Montreal Gazette reminds us that brokers are obligated to disclose information that is relevant to the sale of a property – for the sale of condos at a high-end development in the Old Port of Montreal, this now includes informing potential buyers that their soon to be neighbours, according to the police and the Montreal Gazette, are “mafia associates and other alleged organized crime figures.”

Protect yourself – always ask: “Is there anything about this property I should know that you have not already told me?

Seth B. Abbey is a corporate lawyer at Spiegel Sohmer.