When it comes time to sell a property, you’ll have to fill out the ‘Declarations of the Seller of the Immovable’ (DS).
It’s a mandatory form residential sellers must complete along with a brokerage contract in order to have their house listed on Centris.ca. It’s six pages long with questions about your knowledge of the house and property’s history.
A lot of people balk at the amount of time this form requires and worry they might shoot themselves in the foot if they declare everything they know. There is nothing further from the truth.
Transparency protects both parties
When a buyer gives you a promise to purchase, they acknowledge, in writing, that they understand everything stated on the declaration. As well, most building inspectors will request a copy for their files. Having this information up front will help during the inspection. After the inspection, the buyer will have no grounds to renegotiate on anything you’ve already declared.
If they ever try to come back at you for problems they experienced after they bought and moved in, you’ll be protected as long the problem was stated in the declaration.