New Information Sellers need to provide
When you sell or buy a property, you may notice that your solicitor provides you with a Property Information Form. If you are selling you will complete this form with information for the buyer, and if you are buying you will be able to look through the form to ask any more queries.
The forms are supplied by the Law Society in an attempt to make transactions easier and provide uniformity. If completed correctly, it helps the solicitors speed up the process and get to completion quicker. They include sections about the boundaries, alterations to the property, environmental issues and parking at the property. The seller is also requested to give information about the services such as electricity, gas, water and other utilities at the property to help any potential buyer.
This year the forms have been updated to include extra questions to try to assist transaction further and prevent any ambiguity. The new queries include information about Japanese knotweed, septic tanks and radon gas. You should ensure that your solicitor is using the correct forms as using the old forms could cause unnecessary delays in the transaction.
If you have any queries about selling or buying a property then do not hesitate to get in touch.