IMPORTANT INFORMATION FOR THE SELLER:
This form will take a little time to complete but contains information which will speed up the legal process. You should already have a lot of information which will have been provided to you when you bought the property.
Before you begin, check whether your solicitor has provided you with a hardcopy or online copy of your deeds packet or, if you have a Property Logbook, and whether the Property Logbook company has a service to populate this Buying and Selling Property Information form automatically from an online version of your Property Logbook. You will need to update any information that has changed during your ownership of the property in both your logbook and on this form.
PART A – Getting the property ‘Market Ready’ (Disclosure of material facts)
Whether you are the legal owner of the property or representing them you should complete this form as though the questions are being answered by the legal owner and based, as far as possible, on their personal knowledge of the property.
The information you provide must be accurate. You must complete this questionnaire to comply with the Consumer Protection from Unfair Trading Regulations 2008 during the marketing of the property. Under these regulations it is a legal requirement to disclose anything that would materially affect the ‘average person’s’ decision to buy the property.
How will the information be used?
To comply with the regulations, the information will be displayed by the person marketing the property for anyone to view, this might include their own website or via the property portals.
PART B – Getting the property ‘Sale Ready’
You need to complete the information in Section A to market your home and both Part A and Part B will be used during the legal process. Anyone making an offer to buy or lend money on the property is entitled to see Part A and Part B.
How will the information be used?
Your solicitor and your buyer’s solicitor and valuer will use this information as part of the legal process for selling your home and it will form part of the contract for sale.
You must answer all questions or it will delay the legal process. You must not leave out information which could affect a buyer’s decision to proceed.
If any of the information changes before you complete the sale then you should let your estate agent and your conveyancer know about the changes, in writing, as soon as possible.
If the property is leasehold, commonhold or a managed freehold, additional information forms will need to be completed by you and the person who manages the shared amenities. Your solicitor will deal with this, but you can help by asking the property manager for details of their costs to provide the information and who your solicitor should contact to get the information.
Whilst you do not need a solicitor to help you complete the questionnaire, instructing your solicitor now will mean they can help you collate the information, review the answers which you have provided and may help you answer questions you aren’t sure about. This can significantly speed up the legal process.
Make sure you give all of the documents which you have referred to in your answers to your solicitor. You will also be able to upload any relevant documents.