When you come to sell your property so much happens very quickly, especially if you are lucky enough to find a buyer promptly.
Everyone is in a rush and you are under pressure to instruct solicitors, find your documentation and complete paperwork sent to you by your solicitors. However, it is at this time that you really do need to take some time to ensure that paperwork is completed properly as a recent case has highlighted.
As part of the initial documentation required by your solicitor, you will be required to complete a Law Society Property Information Form (link to the Law Society pdf). This form asks general questions from who owns what garden boundary to whether the property has flooded; a total of 16 pages of questions.
As you will see from this recent case, the form in that transaction stated ‘no’ in answering whether the property had ever been flooded when it fact it had been. The sellers are now facing legal action and it will be interesting to see whether they will be successful.
Therefore, the moral of the story is, if you have a Property Information Form to complete, read each question carefully, ensure you understand the question and reply to it honestly.
If you are unsure then please contact our Residential Property team who would be able to help with this and any other residential property enquiries you may have.