Disclosure Information

Property disclosures protect both buyers and sellers during a real estate transaction. In Ontario, sellers must reveal specific information about their property to avoid legal disputes and ensure a transparent sale. While the principle of "buyer beware" applies to many aspects of a home, certain defects require immediate notification.

Sellers must disclose latent defects. These are physical problems that a standard home inspection cannot easily identify, such as structural issues, a history of basement flooding, or faulty electrical systems. If a defect makes the home uninhabitable or dangerous, you must inform potential buyers. Failing to disclose these known issues can lead to expensive lawsuits after the closing date.

In the Orangeville, Caledon, and Shelburne markets, disclosures often cover unique rural and suburban factors. Sellers should provide information regarding well water potability and flow rates, septic system maintenance and age, past renovations completed without municipal permits and environmental concerns or easements on the land.

Buyers should always request a Seller Property Information Statement (SPIS). While not mandatory in every deal, this document provides a written record of the seller’s knowledge regarding the property’s condition. It offers an extra layer of security for buyers moving into the Dufferin County and Peel Region areas.