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SPIS – Seller Property Information Statement

Posted on: May 31st, 2016 by Chris Scott

This standard form was created by the Ontario Real Estate Association. It is completed by the listing party and contains information about the house being sold based on the Seller’s knowledge and experience in the house. Some Ottawa home buyers will ask for this as part of an offer.

Sellers are not required by law to complete this form. If you do, then your agent is required to acknowledge its existence and inform all potential Buyers. If the Buyer, however, makes an offer conditional upon having an SPIS, then the Seller either has to complete one, scratch it off the offer or decide not to sell to that Buyer.

There are legal implications associated with an SPIS. If a Seller has completed an SPIS, he/she could be held accountable if the information is incorrect or misleading.
Agents are obliged to make Sellers aware of the implications of an SPIS and the importance of accuracy and also that the Sellers are not legally required to provide this information. However, sellers must disclose all material facts with or without an SPIS.

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