If you have sold residential property within the last 15 years, you will be familiar with completing the Law Society Property Information Form. This form is now used in every transaction involving the sale of residential property and can often cause headaches for sellers who are unfamiliar with them.
The Property Information Form is completed by the seller to give a potential buyer detailed information about the property being sold. The form contains various sections concerning boundaries, services, parking arrangements amongst other things and it is designed to allow the seller to give specific information about the property that only they would possess.
The Property Information Form was one of a number of standard forms brought in as part of the Law Society Conveyancing Protocol, with the purpose of streamlining the procedures used in residential conveyancing. It contains standard questions that are applicable to almost every residential sale and this therefore saves time that would be spent by a conveyancer raising all of these standard enquiries.
As the contents of the Property Information Form are replied upon by the buyer and their solicitor, it is important that any information detailed is correct and given to the best of the seller’s knowledge. A seller should not include anything that they know is incorrect, nor should they emit information that is relevant, as a buyer could bring a claim in retrospect.
It is therefore important that if you have any difficulties completing the form or have any queries about any of the questions, you should speak with your solicitor or conveyancer who will be able to clarify matters.
If you require any further advise regarding the Property Information Form or any other aspect of residential conveyancing, please contact our specialist property team in 01792 648111 or email@example.com.