What Is An SPIS? Do We Need It?
By Lisa Tollis, SRES
(Royal LePage State Realty, Brokerage.)
What Is an SPIS?SPIS stands for Seller Property Information Statement (SPIS).Yes! It is a very valuable tool that should be used by all realtors at all times. I always make sure that my clients have filled out the SPIS form accurately & completely as possible before we list the property. Having said that, when I represent my Buyers, I always ask for an SPIS in the offer. The SPIS protects all parties involved in the transaction and the realtor. When the SPIS is filled out by the seller, it will disclose any known problems or defects that the home or property may have.There can be serious problems associated with the SPIS form if the sellers of the home or property do not complete or accurately fill the SPIS form. Some sellers would rather not disclose a problem, by doing this could aff...