When selling your property, you naturally want to portray it in the best possible light. But in some circumstances, homeowners are aware there is a problem but don’t know how much information to disclose for fear they’ll struggle to sell.
Ever since 2013, selling a property falls under the Consumer Protection Against Unfair Trading Regulations. This places the onus on the seller to divulge anything that may impact the buyer’s decision to proceed with the purchase. If the seller omits anything of importance (that they were aware of) they could face prosecution – whether the buyer asked about the issue or not.
What kind of issues should be disclosed?
However uncomfortable it may be to be honest about an issue with your home, it is better to be honest and upfront than to face legal action later down the line. The new owners could commence legal action months or even years after your sale completes.
Issues include, but are not limited to:
- Flooding issues, current or historic
- Structural problems
- Japanese knotweed, current or historic
- Pests, current or historic
- Planning permission on the property, be that pending, granted or denied.
- Disputes with neighbours that have resulted in written exchanges, local authority or police involvement
- Whether the neighbours have any anti-social behaviour orders (ASBOs)
- Whether there is a flight path nearby
- A previous sale falling through due to bad survey results
- A violent death that occurred at the property.
Obviously, there are minor things which could affect any property, such as neighbours with a noisy dog or lots of children – but we are talking about the more fundamental issues. If you are not sure what information you are or are not required to disclose, seek advice from a solicitor.
Serious issues will be revealed in the conveyancing process therefore it would be prudent to reflect such issues in the asking price. You would also be advised to demonstrate how the issues have been resolved with all relevant paperwork, or if they are in the process of being resolved.
If you have a ‘problem property’ and have perhaps tried to sell on the open-market or would prefer not to so you don’t have to disclose whatever issue you have with your home to lots of people, we may be able to help you.
WeBuyProperty are a property buying company specialising in quick sales. We have funds ready to purchase properties and have helped hundreds of sellers with tricky properties.
You can discuss any issues with us (we will have come across them all before) and we will happily provide you with a no obligation offer. If you accept this, we will guarantee to buy your house and pay all the fees, transacting within a matter of weeks or to a timescale that suits you.
Phone number: 0207 938 3007