Selling a house can be quite a chore. From hiring the right estate agent to staging your property, from small repairs and renovations to big remodels to increase the property value, there is so much involved in selling a home. And, let’s not forget about the most important aspect of selling a property: the right sale price. Price it too high and you won’t get too many offers, price it too low and you’ll end up losing money. And, once you do get an offer, there are multiple things that you need to disclose to the potential buyer. If you don’t, you could get into trouble!
First and foremost, if you are planning on selling a house in the UK, you should fill out a Property Information Form, which is also known as the TA6 Form in estate jargon. If you are in touch with estate agents in Leeds to sell your home, ask your estate agent about this form. While this form is not legally required, it is always a good idea to fill it out as potential buyers might feel you have something to hide if you do not do the needful. Now, if you are thinking about selling a house in the UK, here are some important things that you have to legally disclose to potential buyers as well as estate agents.
You have to legally disclose any building work, remodels and alternations that have been done on your property. You are also required to include these details in the TA6 form. Building control certificates, planning permissions and other such vital information also must be disclosed.
If there are any major problems with your property that have been detected in previous surveys, such as flooding problems or pest issues, then you are legally obligated to disclose such problems. Problems like subsidence, problematic weeds and environmental matters need to be disclosed, legally. Any known structural issue must also be disclosed.
If there are any upcoming proposals for construction or development near the property, then you are legally obligated to disclose those in the TA6 form. Also, any approved pending or denied applications in regard to planning permission need to be disclosed too.
There are three important factors that you need to legally disclose about your property when it comes to the location. One, if the property is under a flight path. Two, if your property is near or within sight of a motorway. And three, if there is any substation or power plant that is near the property. Even if there are any development plans for upcoming motorways or power plants, then these must be disclosed. Also, if there are any public rights of passing ways that are going through the property or the grounds of the property, then those need to be mentioned as well.
These are different from structural issues or pest issues. In this case, a seller needs to disclose ‘hidden’ defects such as high carbon monoxide levels. Asbestos issues need to be legally disclosed as well as mentioned in the TA6 form.
If any neighbour has been served an Anti Social Behaviour Order, as known as an ASBO, and you as a seller are aware of this information, then this must be declared. Also, if there are any ongoing problems with your neighbours, such as any boundry disputes or property disputes, then you are legally obligated to disclose these issues. Any official neighbourly disputes such as noise complaints in which the local police were involved also need to be disclosed.
If there have ever been any murders that have been committed on the property, then these must be disclosed. Similarly, if there have been any suicides or deaths on the property, the seller is legally obligated to disclose those too.
As a seller, you are legally obligated to disclose any outstanding property debts, for instance, a Green Deal loan. A Green Deal loan is taken out for energy-efficient home improvements and is expected to be paid off over a fixed period of time. So, even if an owner sells the property, the debt exists for the property. Hence, the seller is legally obligated to disclose such debt as the debt will be passed on to the buyer.