What information must be disclosed by a seller when selling a house?
What information must be disclosed by a seller when selling a house? Although, sellers obligations are very limited, but Ontario Provincial Laws require sellers to disclose certain information that may affect peaceful use of property by the new owners. Broadly, there are two types of defects- 1. Latent Defects 2. Patent Defects The latent defects are those which are not easily detectable even by professionals, unless the property is inspected with proper equipment and machinery to detect such defects. Some examples are flooding in the basement, concealed fire damage & molds. Such defects if known to the sellers, must be disclosed to the buyers. It is best to provide such disclosures in written form to avoid any future discrepancies. On the other hand patent defects are generally noticeable and therefore, need not be disclosed to the potential customers. Since, the defects are easily visible with a naked eye it becomes buyer’s responsibility to do the due dili...