If you’re selling a property, at some point you are going to have to complete a SellerS Property Information Form (SPIF). It’s a fairly lengthy document that provides the buyer with lots of detail about the property you are selling.
It’s an important document and is exchanged with the buyer and forms part of the contract for the sale. It’s not mandatory to complete one. But if you don’t it will look suspicious and the buyer will likely decide not to go ahead.
It doesn’t happen often, but there have been cases of sellers providing incorrect information which has led the buyer to take them to court for misrepresentation.
Last year a couple began proceedings against their buyer after their property flooded. They found a historic Facebook post proving the sellers were aware of the problem. Details were not included in the SPIF.
The SPIF covers a wide range of topics. These are some of the things you will need to consider:
Environmental issues – this includes flooding but also whether the property is affected by the invasive plant Japanese Knotweed.
Boundaries – Where are they? Whose responsibility are they? And whether any boundaries have moved in the last 20 years.
Disputes – whether there are any disputes either with this or a nearby property either historic, ongoing or that may potentially occur in the future.
Notices or proposals that may affect the property – for example if there are plans to develop land nearby.
Alterations – if you’ve made changes to the property such as an extension, conversion or change of use. These all need to be declared along with any supporting documents such as Building Regulations approvals.
Insurance – this includes whether you have ever had buildings insurance refused or been subject to a high excess.
On top of that there are sections covering guarantees and warranties, parking and other charges you may be liable for as the owner.
As the seller you have a legal obligation to fill it out correctly. But you aren’t alone. Your conveyancer will be able to help explain questions you are unsure about to make sure you get it right.
Services from legalmatters during Covid-19 pandemic
Here at legalmatters, we continue to do everything we possibly can to service our existing and new clients during these very difficult times.
Our ability to provide remote services makes us stand out from the crowd. This means that you can deal with your will, power of attorney, probate, trust and tax advice etc all over the phone or by email and documents are sent to you by post. We are also advising our clients on signature processes bearing in mind social distancing measures.
Meanwhile, the office continues to operate with minimal skeleton staff for the protection of our staff, clients and visitors, enabling us to still process physical documents for our clients. If you do find that you need to call into the office for instance to have documents witnessed when it is otherwise difficult for you to arrange that with family and friends then do please get in touch.
If you would like to speak to one of our expert Conveyancers, ring us on 01243 216900 or email us at email@example.com.