Comments on: Sellers statement often results in expensive court proceedings http://miltonblog.ca/2009/08/31/sellers-statement-often-results-in-expensive-court-proceedings/ chris newell welcomes you home to milton. Sat, 17 Jul 2010 07:23:08 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Chris http://miltonblog.ca/2009/08/31/sellers-statement-often-results-in-expensive-court-proceedings/comment-page-1/#comment-1953 Chris Tue, 01 Sep 2009 01:06:35 +0000 http://miltonblog.ca/?p=1476#comment-1953 Steven, while my hope would be that the SPIS CAN be used, the number of lawsuits preclude the use, and I suspect that the Realtor's Errors & Omissions insurer would be hesitant to provide protection, given that a lawyer of Mr. Aaron's standing is saying not to use them. Steven, while my hope would be that the SPIS CAN be used, the number of lawsuits preclude the use, and I suspect that the Realtor’s Errors & Omissions insurer would be hesitant to provide protection, given that a lawyer of Mr. Aaron’s standing is saying not to use them.

]]> By: Steve Barrow http://miltonblog.ca/2009/08/31/sellers-statement-often-results-in-expensive-court-proceedings/comment-page-1/#comment-1949 Steve Barrow Mon, 31 Aug 2009 22:34:40 +0000 http://miltonblog.ca/?p=1476#comment-1949 Every lawsuit I have seen where the SPIS was used as grounds for the suit shows one of two things. 1) The REALTOR when asked told the clients that there was no need to disclose whatever the issue was. 2) The sellers outright lied or grossly understated the nature of the issue. The SPIS can protect both the seller and the buyer if used properly. I think the key is proper and informed use of the SPIS by both the buyer and the seller. Caveat Emptor must always apply. Every lawsuit I have seen where the SPIS was used as grounds for the suit shows one of two things.

1) The REALTOR when asked told the clients that there was no need to disclose whatever the issue was.

2) The sellers outright lied or grossly understated the nature of the issue.

The SPIS can protect both the seller and the buyer if used properly. I think the key is proper and informed use of the SPIS by both the buyer and the seller.

Caveat Emptor must always apply.

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