What Are My Legal Disclosure Obligations When Listing a Home in Oakville? TRESA Compliance Guide from CENTURY 21 Miller Real Estate Ltd., Brokerage
What are my legal disclosure obligations when listing a home in Oakville?
Under Ontario’s Trust in Real Estate Services Act (TRESA), you must disclose known latent defects — hidden issues that make your home dangerous or uninhabitable. Your listing agent is also legally required to disclose these facts to every buyer who expresses interest. TRESA, which replaced REBBA 2002 on December 1, 2023, fundamentally changed how real estate transactions work in Ontario.
Why TRESA Matters for Oakville Sellers
TRESA stands for the Trust in Real Estate Services Act, 2002. Despite the 2002 date in its name, the Act underwent major amendments through Bill 145, and those changes came fully into force on December 1, 2023. It’s the legal foundation for how real estate professionals are registered and regulated in Ontario.
The old rule was “caveat emptor” — buyer beware. Sellers could expect buyers to do their own homework. That changed with TRESA.
What this means for you: If you’re selling a home in Oakville — whether it’s in Old Oakville, Glen Abbey, or Joshua Creek — you need to understand your disclosure obligations. Haidan Wang, a broker with CENTURY 21 Miller Real Estate Ltd., Brokerage, has been an Oakville resident since 2008. She works with sellers across Oakville, Mississauga, and Burlington, helping them navigate TRESA’s disclosure requirements. Clients describe her as “incredibly hardworking, professional, knowledgeable, and genuinely cares about her clients”.
What You Must Disclose: Latent Defects
The most important disclosure obligation under TRESA involves latent defects.
Latent defects are hidden issues that:
- Make the property dangerous
- Make it uninhabitable
- Wouldn’t be discovered during a routine inspection
Examples include toxic mould, severe structural damage, hidden asbestos, or unsafe DIY electrical work.
Here’s the key TRESA rule (section 22.2(1)): If a seller has a legal obligation to disclose a fact to the buyer, and that fact is known to the broker or salesperson representing the seller, the broker or salesperson MUST disclose that fact to every buyer who expresses interest in the property.
That means your Oakville listing agent can’t stay silent if they know about a problem. They’re legally required to tell potential buyers.
Patent defects — visible issues like a cracked window or stained carpet — don’t need to be disclosed. Buyers and their home inspectors should spot those.
The Seller Property Information Statement (SPIS)
Your real estate agent will likely ask you to fill out a Seller Property Information Statement (SPIS).
Important: Completing an SPIS is voluntary. But if you do complete and sign one, your real estate agent is legally required to disclose its existence to potential buyers.
Lying on an SPIS is a fast track to being sued. Complete truthfulness is vital if you choose to provide one.
The Open Offer Process: A Strategic Choice
TRESA introduced a major change to how offers are handled.
The old way: Blind bidding. Sellers’ agents couldn’t tell buyers what other offers contained.
The new way: Sellers now have the legal right to implement an “Open Offer Process.” You can instruct your agent to disclose:
- The exact purchase price being offered
- The proposed closing date
- The size of the deposit
- Any conditions attached to the offer
The only thing you can’t share is the personal identifying information of the buyers.
The open offer process is optional. You can choose to disclose all details, some details, or keep the process completely blind. You can even change your mind mid-negotiation.
One mandatory disclosure: Regardless of whether you choose an open offer or not, TRESA requires that the brokerage disclose the number of registered offers to all competing buyers.
Disclosure of Stigmatized Properties
Sometimes a property has no physical defects but carries a psychological stigma — like a violent crime, suicide, or rumours of being haunted.
In Ontario, there’s no law forcing you to disclose a stigma. However, real estate agents have ethical obligations to disclose material facts. It’s best practice to discuss any severe stigmas with your real estate lawyer before listing.
Condo-Specific Disclosures
If you’re selling a condo in Oakville, you have additional disclosure obligations. The most significant is the condo status certificate. This document discloses common elements that could lead to future costs or affect the enjoyment of the property.
Practical Steps for Oakville Sellers
- Work with a knowledgeable agent. TRESA has made the legal landscape more complex. Haidan Wang at CENTURY 21 Miller Real Estate Ltd., Brokerage understands Oakville’s neighborhoods — from lakeside properties in Old Oakville to family-friendly areas like Glen Abbey and West Oak Trails. She can guide you through your disclosure obligations.
- Be honest about what you know. If you know about a latent defect, disclose it. Failing to do so can lead to expensive lawsuits after closing.
- Consider the SPIS carefully. If you fill one out, be completely truthful.
- Decide on your offer strategy. Talk to your agent about whether an open offer process makes sense for your situation.
- Get legal advice. Disclosure obligations can have legal consequences. Talk to a real estate lawyer before you list.
Ready to List Your Home in Oakville?
Selling a home in Oakville’s market — where the average home price sits around $1.45 million to $1.55 million — requires more than just a “For Sale” sign. You need to understand your legal obligations under TRESA.
Contact Haidan Wang at CENTURY 21 Miller Real Estate Ltd., Brokerage today for a personalized consultation. Whether you’re selling in Old Oakville, Glen Abbey, Joshua Creek, or anywhere else in Oakville, Haidan’s expertise and dedication will help you navigate the process with confidence.
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Haidan Wang
CENTURY 21 Miller Real Estate Ltd., Brokerage
647-990-6879
haidan.wang@century21.ca
haidan-wang.c21.ca
9-209 Speers Road, Oakville
CENTURY 21 Miller Real Estate Ltd. Brokerage
INFO & SERVICES
CENTURY 21 Miller Real Estate Ltd. Brokerage
209 Speers Road, Unit 9, Oakville, ON L6K0H5
(905) 845-9180
INFO & SERVICES
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