Buying, selling, renting, or leasing property can be challenging and complicated, even in normal circumstances. COVID-19 creates new questions for consumers and can add significantly to the challenges of a real estate transaction.
To help real estate consumers navigate these unique circumstances, the Real Estate Council of BC (RECBC) has prepared guidance for navigating real estate during COVID-19.
During these unprecedented times, it has come to the attention of RECBC that COVID-19 clauses are being used in contracts of purchase and sale. Some consumers are also being asked to sign liability waivers aimed at absolving a real estate professional of any liability resulting from COVID-19.
While RECBC does not prohibit these clauses or waivers, you are encouraged seek independent legal advice to ensure you understand any ramifications of entering into these agreements. Your real estate professional is not a lawyer and therefore, to protect your interests, they will always point out when it is important for you to get external advice from a legal professional.
Erin Seeley, CEO of RECBC, and Michael Noseworthy, BC Superintendent or Real Estate, share an update and their support for Real Estate Professionals in a brief video: