The Real Estate Industry certainly is getting lots of media coverage these days. By the end of October I will be able to publicly discuss the competition bureau issues. It will be nice to have that one behind us.
Two other topics that have received less coverage but offer equal confusion to consumers are the HST and The Mandatory Energy Audits. We receive many questions from consumers unsure of what HST is applied to. HST is not applied to the purchase price of resale homes of any price. HST is applied to realty commissions, lawyer fees, home inspector fees, etc. The mandatory home energy audit was proposed for Ontario resale properties by the Ontario Ministry of Energy. This proposal would have meant that homeowners would have to pay for an energy audit prior to listing their house for sale and post the results with the listing. This concept is problematic on so many levels. Energy audit companies were thrilled as they have seen a steep decline in audits as the government grants dry up. However, realtors and homeowners saw this as a bad policy that would be difficult to interpret and implement. After the Ontario Real Estate Association lobbied strongly against the audits the plan was completely scrapped. You can learn more at http://www.orea.com/ and click on OREA issues under the government relations tab.
Wednesday, October 20, 2010
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