Decks, fencing, carpentry, furniture
restoration and repair, plumbing,
electrical, tiling, ﬂooring and more.
sellers of property and their agents. For instance, should it be
mandatory to disclose whether a property has been subject
to flooding or other natural hazards in the past? Similarly,
should there be disclosure requirements concerning whether
a property is at risk of experiencing hazards in the future?
In Ontario the concept of “buyer beware” generally applies
to real estate transactions. That is, absent fraud, mistake or
misrepresentation, a buyer takes an existing property as he
or she found it. However, there is a growing trend toward
greater disclosure by home sellers to prospective buyers – both
in Ontario and in other jurisdictions. For instance, buyers
are increasingly asking sellers to complete SPISs in Ontario
real estate transactions. The SPIS asks questions such as:
…No job too small!
I would like to say a big thank you to all Silver &
Gold readers for selecting Paul’s
Repairs for all of your home repair needs since
2012. I look forward to serving both new
and existing customers in 2015!
• Is the property subject to flooding?
• Are you aware of any moisture and/or water problems?
• Are you aware of any damage due to wind, fire, water,
insects, termites, rodents, pets or wood rot?
• Are you aware of any problems with the plumbing system?
If a seller elects to fill out a SPIS he or she must complete
it accurately and honestly, or face potential legal liability
Other jurisdictions have made disclosure of certain property
risks mandatory. For instance, under California’s Natural
Hazards Disclosure Act, sellers of real property and their
agents are required to disclose when property being sold
is located within flood hazard zones, fire hazard zones and
earthquake fault zones, among others. This information is
provided in a “Natural Hazard Disclosure Statement”. A
study conducted by the California Policy Research Center
suggests that the disclosure requirements under this Act have
been well adhered to and, at least in some cases, have had a