If you’re selling a property, at some point you are going to have to complete a Seller 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 of 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.
CP Law’s team of expert solicitors can ensure your property move goes smoothly. Speak to a member of our team today, contact us on 0345 2413100 or email us at email@example.com.