Who Pays for What When Buying a Home?

WHO PAYS FOR WHAT
WHEN BUYING A HOME?

Buying a piece of
property is not a
simple transaction,
and buyers are
often surprised by
the number of
parties involved,
who of course, all
need to be paid.

Inspections and Reports
It is generally up to the buyer to pay for a general home inspection and any other more specialized
inspections such a roof, plumbing, or electrical inspection. If there is a well or septic system on the
property it is generally up to the buyer to have those systems inspected and and to do a water test.
On a large property the buyer may also want a survey that marks the corners of the lot. This may or
may not be paid by the seller. The allocation of costs for inspections and reports does not determine
who will pay for any repairs that might be necessary as a result of those inspections. That is
negotiated between buyer and seller.

Provincial
Requirements
The seller is responsible for the
correct permits in the house and
that the mechanical equipment
such as the water heater are
installed to code. If there are
otheKamloops Title Insurancer
minimum safety standards that
must be met, the seller is
generally responsible for those
expenses.

Title Insurance
Title insurance is designed to protect both the owner and lender
from financial loss due to title defects, liens, or other title related
issues. The buyer pays for a title insurance policy to protect the
lender.
Sources:
https://artesiantitle.com/
http://www.kamloopspropertyforsale.com/blog/whopays-for-what-when-buying-a-home.html