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Do you have to disclose water damage when selling a house in Ontario?

As a seller, you are required by law to disclose any known latent defects that could make your home dangerous or unfit for habitation. Examples of latent defects could include a basement that floods during heavy rainfalls, a structural problem with a wall or a chronic mould outbreak.

Is SPIS mandatory in Ontario?

Is completing a SPIS mandatory? No. Sellers are not required by law to complete a SPIS. However, according to the Real Estate Council of Ontario, once a seller has completed a SPIS their broker or agent is required to tell all potential buyers of its existence.

Do you have to disclose asbestos when selling a house Alberta?

If the seller is aware of asbestos in their home they are required to declare its presence on the Property Disclosure Statement. If a seller knowingly omits that information they can be sued in civil court \u2013 if the buyer later finds out that the information was intentionally withheld.

What is a PCDS in real estate?

The PCDS is a disclosure document a seller is required by law to complete and provide the buyer in addition to the purchase agreement. The PCDS forms part of the purchase agreement and the buyer is permitted to rely on the seller's disclosure as set out in it.

What is a disclosure statement?

(6) A disclosure statement is a statement made by the party disclosing the documents \u2013 (a) setting out the extent of the search that has been made to locate documents which he is required to disclose; (b) certifying that he understands the duty to disclose documents; and.

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Is a property disclosure statement required in BC?

If you're selling a home, you are required by law in BC to provide a Property Condition Disclosure Statement and other financial statements to the potential buyer. This document details any existing problems with the property and explains how you can resolve them.

Are the sellers of a house liable for repairs after the closing Canada?

Until the deal closes and you take possession of the property, the seller is responsible for the property. Any damage to the property or to the items included in the sale, are the sole responsibility of the seller until your purchase funds are transferred and you take possession of the home.

Is a property disclosure statement required in Alberta?

The common law supports the requirement for a seller to disclose material latent defect. In addition, the Real Estate Council of Alberta requires that a real estate agent disclose known material latent defects.

Do you have to disclose a death in a house in Ontario?

In Ontario, there is no legal requirement as of yet for sellers or their real estate agent to disclose a past death or murder in the home.

What must be disclosed when selling a house in Washington state?

Washington law says that when you sell your home, you must fill out a Seller Disclosure Statement (also known as Form 17). You must tell the buyer any problems with the property that you know about.

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Do you have to disclose water damage when selling a house in Ontario?

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Is a property disclosure statement required in BC?

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