{"id":1419,"date":"2019-06-13T15:55:37","date_gmt":"2019-06-13T15:55:37","guid":{"rendered":"https:\/\/areslaw.ca\/parry-sound\/?p=1419"},"modified":"2019-06-13T15:56:37","modified_gmt":"2019-06-13T15:56:37","slug":"your-rights-when-it-comes-to-property-disclosure","status":"publish","type":"post","link":"https:\/\/areslaw.ca\/parry-sound\/your-rights-when-it-comes-to-property-disclosure\/","title":{"rendered":"Your Rights When It Comes to Property Disclosure"},"content":{"rendered":"\n<p>Imagine\nbuying a home only to find out later that a violent crime took place in it, a\ntornado ripped through it, or there was a drug lab in the basement? As a buyer,\nyou have certain rights as well as responsibilities when it comes to the\ndisclosure on your home\u2019s past, and it\u2019s important to learn before you sign on\nthe dotted line just what you\u2019re getting into. Here are some key considerations\nwhen it comes to disclosure, so you can be armed with the right information and\nask all the right questions before you put in your offer.&nbsp; <strong><\/strong><\/p>\n\n\n\n<p><strong>Your real estate agent\u2019s obligations<\/strong><\/p>\n\n\n\n<p>Realtors\nin Ontario are governed by the Real Estate Council of Ontario (RECO) and are\nregulated by the Ontario Real Estate Association (OREA). Participation in these\ngroups means that they must follow strict ethical guidelines, which includes\nissues around what they can and cannot disclose to prospective buyers. It\u2019s\nclearly stated that if a real estate agent is knowledgeable about any structural\nproblems with the home or a stigma attached to it (including murder, suicide,\ndrug production and hauntings) that may impact the home\u2019s value, then they are\nobligated to disclose it before the offer has been made. <\/p>\n\n\n\n<p><strong>The seller\u2019s disclosure obligations<\/strong><\/p>\n\n\n\n<p>Sellers are required to complete a form called a Seller Property Information Statement (SPIS) when they list their home. Here they must outline any defects, problems and renovations regarding the home, and provide information on everything from the type of wiring, plumbing, flooring, building materials, previous water damage and more. Unfortunately, many sellers may not know the full history of the home, so the SPIS may contain gaps.<a> <\/a>The bottom, line however, when it comes to disclosure is that the seller and their realtor must answer truthfully to questions about the home and its past. That\u2019s why it\u2019s important for prospective buyers (and their real estate legal team) to ask a lot of questions and uncover as much as they can through their own research. <\/p>\n\n\n\n<p><strong>What about recorded conversation when\nviewing a property? <\/strong><\/p>\n\n\n\n<p>Advances\nin technology have resulted in people having easier access to recording devices\nthat they can install throughout their house, which is exactly what some\nsellers are doing when they show their homes. As a result, they can hear\nprivate conversations about the house, their financing, and what they are\nwilling to pay \u2013 to name a few. While this can certainly give the seller an\nadvantage when it\u2019s negotiating time, it\u2019s also illegal. Laws in Canada are\nvery clear that a person cannot intentionally record someone unless they have\ndisclosed that they are doing so. If a seller wants to record people viewing\ntheir home, they must put up signs or have their agent tell each person who\ncomes to the home. <\/p>\n\n\n\n<p>To\nprotect yourself as a potential buyer, don\u2019t discuss the home or your opinions\nabout it while you are viewing it, but instead wait until you are away from the\nproperty. <\/p>\n\n\n\n<p>When\nyou work with an experience real estate law team, issues such as disclosure and\nyour legal rights are always discussed. Here at Ares Law, it\u2019s our job to find\nout everything about your new home, cottage or condo, and make sure you and\nyour investment are well-protected. We disclose everything to you and we have\nyour best interests at heart. If you\u2019re buying or selling in the Parry Sound or\nMuskoka region, be sure to make an appointment and talk to us so we can ensure everything\nruns as smoothly as possible. Call today at 705-746-6444; we\u2019re here for you. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Imagine buying a home only to find out later that a violent crime took place in it, a tornado ripped through it, or there was a drug lab in the basement? As a buyer, you have certain rights as well as responsibilities when it comes&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[127,128,129,126,81,58],"class_list":["post-1419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-cottage-purchase","tag-disclosure","tag-haunted-house","tag-home-purchase","tag-home-buying","tag-real-estate-law"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Your Rights When It Comes to Property Disclosure - Ares Law Parry Sound &amp; Muskoka<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/areslaw.ca\/parry-sound\/your-rights-when-it-comes-to-property-disclosure\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Your Rights When It Comes to Property Disclosure - Ares Law Parry Sound &amp; Muskoka\" \/>\n<meta property=\"og:description\" content=\"Imagine buying a home only to find out later that a violent crime took place in it, a tornado ripped through it, or there was a drug lab in the basement? 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