The Seller Property Information Statement or SPIS Form
The SPIS or Seller Property Information Statement is one form your realtor will ask you to complete when you are listing your home for sale.
The SPIS consists of 30 to 40 common questions about the mechanical, structural and environmental components of your home, cottage or vacant property. Along with the SPIS you may also be asked to complete a Water Waste Disposal access and Shoreline Schedule.
The SPIS is comprised of simple questions which ask for a yes, no, unknown or not applicable answer. You simply mark the appropriate box and initial your answers. There is also an opportunity at the end of the form to provide more details about the property such as the age of the septic system or roof covering, type of wiring and any improvements you have made to the property that may not have been detailed in the questions on the form.
As with any form your realtor asks you to sign you may want to check with your lawyer for his opinion surrounding the SPIS form and the water schedule. However, if you answer honestly and to the best of your knowledge, and answer the questions as you’d expect to get them from someone else, you shouldn’t have any problems completing these forms.