Seller Property Information Sheet (SPIS) – Suggestions & Tips #6

July 10, 2015 by Grassroots Leave a Comment

Consult your professional realtor® and or lawyer about having the vendor of the subject property complete a Seller Property Information Sheet (SPIS) or vendor disclosure document for your review. After all, it’s likely the single biggest purchase you will make in your lifetime.

The discovery of defects that were known but undisclosed at the time of purchase can spoil what should be one of the happiest moments in a purchaser’s life. You should be able to ask and get answers to any questions you have about the property. A document such as this is a great starting place in doing your due diligence on the property.

Although some feel these disclosure forms are contentious, we believe that more information through full disclosure about the property can help to better inform buyers about one of the largest investments in their lives. Read more from the Ontario Real Estate Association on how buyers can protect themselves by asking for a Seller Property Information Statement (SPIS) from vendors.

When inspecting buildings we are often asked questions concerning various topics. Some of these queries can relate to issues not within the scope of a typical inspection. That’s not to say that information about these topics would not be useful however. For that reason, we wanted to include information on some of these topics your further review.

NOTICE: The information contained on the grassroots.ca website is not intended to be exhaustive nor does it necessarily apply to all buildings, systems, components and the likes. While some information may be able to be “transferred” to a building you’re interested in, it should not automatically be applied to it necessarily. It may however simply act as a prompter for areas you may wish to explore further. As such, the information herein is for information purposes only. It’s not intended to be an exhaustive listing of any / all related issues. Always consult a professional before purchasing, leasing or selling a building, or if proceeding with or considering any work to a building. Seek further professional advice, and, analysis including at least three (3) quotations from various professional reputable & qualified contractors before proceeding with any contemplated work, repairs, improvements, and / or, modifications to a building, to better establish the scope of any / all concerns.