2 CEU Credits

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 will look 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.

By the end of the course you will be able to:

• Appreciate the value of a SPIS to a real estate transaction;
• Understand the contents of the SPIS;
• Recognize your obligations when dealing with a SPIS;
• Identify the possible liability attached to a SPIS;
• Protect your client through the proper use of a SPIS.

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How to Enroll

• Enroll online.
• Call the OREA Real Estate College at 416-391-6732 or 1-866-411-6732.
• Download the Enrollment Form and fax to: 416-445-2113 or
  Mail to 99 Duncan Mill Road, Don Mills, Ontario M3B 1Z2.
• Enroll in person at the OREA Real Estate College, 99 Duncan Mill Road, Don Mills, Ontario M3B 1Z2.