Completing The Sellers Property Information Form
Posted on 28th May 2020
What does a Property Information Form look like?
The Property Information Form has lots of boxes for the Seller to complete with information about the Property. You can view the form, here.
Why do I need to complete a Property Information Form?
The Property Information Form or “PIF” (it’s posh name is “TA6”) can look fairly daunting but the whole selling process could be delayed if the buyer and their Conveyancer don’t have all of the information they need on the form. Getting the information completed and providing all of the guarantees along with any supporting documentation at the very start of the transaction will speed up the whole process.
Is it mandatory to complete a Property Information Form?
No – although it does look suspicious when a Seller is unwilling to provide the Property Information Form. MG Legal’s expert Property Solicitors in Preston have experienced transactions which have fallen through when a seller has been unwillingness to provide the Property Information Forms.
MG Legal, Leading Conveyancing Solicitors. The team that put you first. Contact us to speak to a solicitor today: 01995 602129 or email at: email@example.com
What do I need to disclose in the Property Information Form?
It is always best to provide all of the information you have and complete the form with as much information as possible. Whilst the principle of “caveat emptor” or “buyer beware” will apply to the purchase of a residential property, not providing information that you are aware of is considered a misrepresentation, which may be fraudulent, negligent or innocent.
An innocent misrepresentation is a statement made where the seller has reasonable grounds to believe its truth however, if fraud or negligence is proved, then the buyer is entitled to seek rescission, damages or both. Rescission enables the Seller to treat the contract as non-existent. So, if the Seller purposefully mislead you or was careless enough not to provide information they knew about, then you, as a Buyer, may be able to take legal action.
In the case of Morrell v Stewart 2015 the Seller was required to pay compensation of £33,000.00 after they failed to notify the Buyer of drainage problems that they were aware of.
What should I expect to see in the Property Information Form?
Along with questions about flooding, the Property Information Form will ask about local development and whether the property is affected by the invasive plant Japanese Knotweed. More on that pesky weed here.
Who is responsible for the boundaries and have the boundaries been changed in the past 20 years?
Whether there have been changes to the property such as extensions or the removal of walls to create open plan areas. If there have been alterations, expect to be asked for planning and completion certificates.
Has building insurance ever been refused or is the property subject to high excess fees?
Additional Charges to which the property is subject to
You will also find questions about leasehold fees, parking and any other charges you may be liable for.
There is a lot to think about when you are selling a property and form filling isn’t the most fun part of the process! That said you do have a legal obligation to provide correct and accurate information.
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