What does CPPS stand for?

by Krisan
(Shelburne, On)

I am going to list a house for sale in ontario within the next 2 weeks. In a previous sale of a home in Toronto (2001), the realtor included the following statement:

"PLS NO CPPS OFFERS" on the information page/brochure providing a full description and details (# of rooms, dimensions, taxes, lot, etc) of the house.

I cannot recall the exact meaning of CPPS. I don't know whether the term has changed or is obsolete. Would you please explain CPPS, whether it is (commonly) included in listings in 2015 and an example of why or why not? It is important for me to know if I should request this be written into the listing agreement for my protection/ advantage as a seller.

The house and property are in the only "exclusive, naturally mature and desired neighbourhood". House prices range; the asking price for this approx 5500 sq ft home on over .5 but under 1 acre lot (my husband passed after just turning 56 and prior to my 50th birthday) will be approx $440,000. It may be 10-15k higher or possibly $435,900 but no lower.

I have made several notes of specific, relevant information based on your thorough explanation and knowledge of real estate terms in this well written document.

My thanks in advance, Krisan

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Sep 23, 2015
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Good post
by: Tommie Huels I

Hi! Thanks for your great articles. Thanks!

Jun 14, 2015
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Good Post
by: Luigi Runolfsdottir

Hi! Thanks for your great articles!

Mar 21, 2015
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CPPS
by: Ross

Hi Krisan: Thanks for your inquiry and your expression of appreciation of my website. I enjoy sharing with all my valued visitors.

Frankly, in my 4-decade career in south-central Ontario, I've never come across this acronym. I also asked my daughter who works the Toronto market, as well as another peer. They have never heard it used before either.

Thus, I think your former agent may have been using their creative muscles, or erred, or it was used and understood only in your former neighbourhood.

The only meaning I can attribute to it is that of the American designation of Certified Professional Property Specialist. But as it was used in your previous listing, that wouldn't make any sense.

The only other possible meaning I could apply to such an acronym is that of "conditional purchaser's property sale", though this is not a commonly recognized acronym. If this is the case, then they were attempting to discourage any buyers from offering if they had a house to sell. Since you're not in the hot Toronto market, I wouldn't advise you to take such a position with your upcoming listing.

Do you have an agent to represent your interests? If not, I may be able to personally assist you, or recommend someone. I trust this satisfactorily answers your question. Thanks again for your inquiry. Feel free to visit again and to contact me anytime through this site. Be well. R

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