Canadian Realestate Magazine forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Seller Property Information Statements: What you need to know

Notify me of new replies via email
Canadian Realestate Magazine | 26 Aug 2015, 08:15 AM Agree 0
While seller property information statements (SPIS) are not required by law, there are certain legal implications that investors and real estate agents should be aware of. Commercial lawyer Matt Maurer answers a range of questions about the statements
  • @sjmcwilly | 23 Jan 2017, 03:39 PM Agree 0
    @mattpmaurer, I would be interested in your thoughts why SPIS's aren't mandatory? Aren't we all better off with full transparency?

    if I request one and my competition doesn't, my offer gets tossed in the bin.
    If I don't request one, I can end up with a property with an unpermitted reno that isn't up to code or a have an accurate survey sitting with the city - and have no idea!
  • Lisa | 27 May 2017, 08:44 AM Agree 0
    We didn't know the SPIS and we didn't request one, we bought a property with an unpermitted reno that isn't up to code and doesn't have an accurate survey sitting with the city. Now the house is still not closing. What should we do? Thanks.
  • T | 11 Oct 2017, 12:12 PM Agree 0
    Some agents in clairington let sellers claim " newer" ex roof, furnace,Windows, when they are more the five years old. Why? Or why don't agents get buyers to take to neighbours to confirm renovations? Or agents list more sq ft then what the home actually is? My neighbour has been selling his house on and off because he won't accept his house is 900sq to 1200sq feet and is not worth 450 thousand and his agent is his sister whom works with a broker but is trying to sell private, is that allowed? I think agents should be flat out honest and tell the seller why there home is listed higher then a newer built home and not worth what the seller is trying to get. I know my neighbour will never sell his house at that price unless him and his agent lie or glamorize the listing. I just wish for a buyer to ask the neighbours they know and see renos.
Post a reply