SPIS: Don't Leave the Office Without It!
The purchase of real estate is typically the single biggest investment that consumers make in their lifetime. Young couples and singles save for years for a down payment to invest in their future. What should be one of the happiest moments in a person's life is sometimes spoiled by the discovery of defects that were unknown or undisclosed at the time of purchase.
Codes of ethics, common law and provincial legislation all address the obligation of full disclosure when representing a buyer in a real estate transaction. This obligation, when fulfilled, protects not just the buyer but, as a consequence, salespeople and brokerages as well. When REALTORS® are acting, and seen to be acting, in the best interests of the client, any claim of unethical or unlawful behaviour can be staunchly defended.
One way of ensuring that full disclosure about a property is made is by the use of a Seller Property Information Statement or SPIS along with any applicable schedule(s).
This course looks at the value of a SPIS not only for the protection of a buyer but also for the protection of a seller and a brokerage. If completed accurately and completely, a SPIS provides invaluable information and protection for all parties.
The student will be provided with:
- The value of a SPIS to a real estate transaction
- The contents of the SPIS
- Your obligations when dealing with a SPIS
- The possible liability attached to a SPIS
- The proper use of a SPIS
All courses begin the day you register (Monday – Friday, 8:30 a.m. – 4:30 p.m.). If you register after 4:30 p.m. or on a weekend/statutory holiday, you will be activated the next business day.
Continuing Education students are permitted access to their e-Learning course for a period of two years after the date of registration. After the course has been completed and credits are issued, you will be allowed access to the course, for non-credit reference purposes only, for the remainder of the two-year period.