Kawartha Lakes Real Estate: Seller Property Information Statements

The Code of Ethics, a regulation under the Real Estate and Business Brokers Act, 2002, contains specific provisions related to the Seller Property Information Statement (SPIS). However, it does not oblige a seller to complete one.

The SPIS will provide information related to defects, renovations and other pertinent property information, based on the seller’s knowledge and experience.

If a broker or salesperson has a seller as client and knows that the seller has completed the SPIS, the broker or salesperson is required to disclose its existence to every buyer interested in the property. They are also required to make the SPIS available to any interested buyer upon request, unless the seller has directed them not to.

Kawartha Lakes Real Estate

Brokers and salespersons are also required to disclose material facts. This means they have an obligation to disclose any fact they are aware of that, with respect to the real estate transaction, that might reasonably affect a person’s decision to buy or sell a property.

*For the purpose of this document, a salesperson refers to both registered salespersons and registered brokers.

This publication contains general information only, produced by the Real Estate Council of Ontario (RECO)(RECO.CA) and should not be construed as legal or professional advice. For legal or professional advice specific to your real estate transaction or situation, you should seek the services of a professional.

Coldwell Banker R.M.R. Real Estate Brokerage Each Firm independently owned and operated.

Not Intended to Solicit Buyers or Sellers Currently Under Contract.

 

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