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Please note that the following article has not yet been updated since the coming into force of the new Real Estate Brokerage Act on May 1, 2010. The OACIQ positions which are conveyed in this article may have evolved since the date of its publication. It is your responsibility to ensure, at all times, that you are acting or that you are exercising your rights or recourse in accordance with the Real Estate Brokerage Act, its regulations or any other applicable law.
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The importance to inform their clients selling and buying properties located in these risk zones of the problems related to pyrite and to recommend the specific actions described in this text.
To obtain a better understanding of the pyrite phenomenon, unknown to the public only a few months ago, representatives of the Greater Montreal Real Estate Board and the ACAIQ visited a home in Saint-Bruno. Viewed from the sidewalk, nothing really differentiates it from the neighbouring houses. Inside, on the other hand...
The Comité technique québécois d'étude des problèmes de gonflement associés à la pyrite has finally published a survey protocol on existing residential buildings. A list of the laboratories capable of conducting this type of survey has also been published.
Real estate brokers and agents must be familiar with the region they are working in, so they will be able to provide purchasers and vendors with adequate information about cases of swelling of backfill caused by pyrite that have been reported.
Two standard clauses: The first clause can be used when no written analysis, performed by the seller, exists at the time of the Promise to Purchase; the second clause can be used when the seller has a written report in his possession, resulting from an analysis he has requested, prior to presentation of a Promise to Purchase.
The importance of doing business with recognized laboratories when analysis to determine whether or not a building is affected by a problem of swelling of back-fill caused by pyrite, is required as part of a real estate transaction.