A Seller Property Information Sheet is a form designed to give buyers additional information about the house. It asks sellers to list any known defects, pending work orders or tax increases, oversight by any regulatory body such as conservation authorities, etc. The idea is that, if you disclose everything up front, you reduce your liability.… Continue reading SPIS
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When does a denial of warranty become a guarantee?
A SPIS is a form that some sellers will fill out, which details information about the property, everything from zoning issues to structural issues to environmental concerns. The form specifically states on it that it is not a warranty, and that the purchaser cannot rely on the statements contained on it. However, there have been… Continue reading When does a denial of warranty become a guarantee?