Fire Code question

[Nir]

I forgot to add a condition saying "fire code status satisfactory to the buyer" to an offer to purchase a tri-plex in Orillia. Now, the real estate agent or executrix is refusing to add that condition. Should I run away from the deal (I have that option as I can say my lawyer`s approval condition is not met if this condition regarding fire code status is not added to contract). Is it important to have that condition in the offer as banks require that you have a fire code certificate? Also, Is it important to have this condition to ensure you do not end up paying 10`s of thousands of dollars to have the property certified or is this something that should not cost more than $5K, generally speaking, and therefore not a good reason to break the deal? Lastly, can the inspector provide professional advice regarding fire code issues in the property or is it generally not their expertise, meaning I still need firee inspection officer to come and check the oproperty, therefore still need that condition added to the agreement? THANKS.

 

[terri]

QUOTE (investmart @ Dec 22 2007, 11:45 AM) I forgot to add a condition saying "fire code status satisfactory to the buyer" to an offer to purchase a tri-plex in Orillia. Now, the real estate agent or executrix is refusing to add that condition. Should I run away from the deal (I have that option as I can say my lawyer`s approval condition is not met if this condition regarding fire code status is not added to contract). Is it important to have that condition in the offer as banks require that you have a fire code certificate? Also, Is it important to have this condition to ensure you do not end up paying 10`s of thousands of dollars to have the property certified or is this something that should not cost more than $5K, generally speaking, and therefore not a good reason to break the deal? Lastly, can the inspector provide professional advice regarding fire code issues in the property or is it generally not their expertise, meaning I still need firee inspection officer to come and check the oproperty, therefore still need that condition added to the agreement? THANKS.




Is it a legal triplex or a legal non-conforming triplex? I`m not sure about Orillia, but I have legal non-conforming properties in toronto and have never needed a fire code certificate for the bank to finance.

Curious if the certificate is only required for legal triplexes or whether it is specific to your bank.

From what I was quoted, to have a fire inspection done by a private company is more in the 100$$$ than the thousands$$$, but don`t quote me on that, price may vary based on type of property.

Best thing to do is call the bank and see if they require a fire code certificate and call a private fire inspection company to get a quote. I think it`s probably a good idea to get one done yourself anyway, so you can be certain that the building is safe, everything is up to code and may get you a discount on insurance.

T.

 

[GarthChapman]

It seems to me that if the Agent is refusing to add the condition it is possible there is a problem in that area, but also possible that the Agent just isn`t sharp enough to handle this well. Your spidey senses should be tingling. So check it out carefully. Probably more important than what your Lender will require is the status of the building regarding fire safety.

 

[DennisEpp]

QUOTE (investmart @ Dec 22 2007, 11:45 AM) I forgot to add a condition saying "fire code status satisfactory to the buyer" to an offer to purchase a tri-plex in Orillia. Now, the real estate agent or executrix is refusing to add that condition. Should I run away from the deal (I have that option as I can say my lawyer`s approval condition is not met if this condition regarding fire code status is not added to contract). Is it important to have that condition in the offer as banks require that you have a fire code certificate? Also, Is it important to have this condition to ensure you do not end up paying 10`s of thousands of dollars to have the property certified or is this something that should not cost more than $5K, generally speaking, and therefore not a good reason to break the deal? Lastly, can the inspector provide professional advice regarding fire code issues in the property or is it generally not their expertise, meaning I still need firee inspection officer to come and check the oproperty, therefore still need that condition added to the agreement? THANKS.

 

[DennisEpp]

I do not beleive buying in Orilla or in Inuit that this something u want a home inspector to verify/qualify. The lender may or may not need verification of safety code but at any time dealing with more than 1 unit at at time and there is a condition removal date...be on the safe side. Have a fire marshall or equal give you a written report or Certificate. Lenders are notorious for asking for additional qualifying information after they have approved the loan. They have approved the loan but not the property (in the fine print). By over exceeding in your due diligence you will be prepared to satisfy the lender and safely remove all purchase/financingconditons. Your Realtor may have slipped up on the terms and conditons, personally I put in conditions as a matter of rule. I am in the business as a professional of keeping the deal together, not having to have my client scrambling to find a loop hole in the transaction. Error on the safe side if you are able, terminate the transaction.

PS: Have you signed any Condition stating that you are only able to terminiate without having to prove to the seller/seller rep that you are not able to close. It is becoming increasingly common for Conditions being that the seller/seller rep has to be given a written notice by the lender or the solicitor that you are not able to satisfy.



Dennis Epp

 

[BrianAllcock]

Good afternoon everyone,

I put my offer in on a duplex in Woodstock back in November and to close on the 24th of January.
I put conditions in that I wanted to 2 further visits to the duplex. One visit for inspections.

I never did mention what "inspections" I wanted. So, with that I booked a home inspection and also had the Fire department come in for an "inspection".

These inspections were done within the first 10 days of the offer, So that I could waive all of my conditions.

From there, the fire department wanted all outstanding work that they found during the inspection to be compelted on the property ASAP. Essentially within a month. This put the onus back on the owner of the building to get this work completed.

The Fire inspector told me that they are madating that the Electrical panel needs to be ESA (Electrical Safety Authority) approved every 5 years, and the furnace has to be serviced every year!

I was a little worried about the property and definately wanted to make sure that everything went without a hitch.

This worked out well for me. I now have a duplex that has 2 approved electrical panels, some electrical was changed and the furnace was serviced.
This all saved me approximately $1000.00

Hopefully this will help anyone out there. I am going to put this into practice on every property that I purchase from now on.

Sincerely,
Brian Allcock

 

[fyim]

If you`re so inclined, here`s a link to the Ontario Fire Code:

http://www.ofm.gov.on.ca/english/Legislati...ode/Default.asp

Section 9.5 refers to buildings up to and including 6 storeys in height with residential occupancies, whereas section 9.8 refers to two unit residential occupancies.

This will give you an idea of what`s required to comply. I hired an independent retrofit specialist to go over my two unit dwelling. The additional changes I need to put in weren`t too bad and he charged $250 + gst for the inspection.

Hope this helps.

Regards,

Frank

 

[Nir]

Thanks Frank.