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The information Estate Agents will have to include on property listings are changing
Under current legislation, as set out in the Consumer Protection from Unfair Trading Regulations 2008, estate and letting agents have a legal obligation not to omit material information from property listings.
This is shortly to change requiring additional information which is equally important if you are buying or looking to sell your home and shown below as Part B and Part C.
There are three stages of Material Information disclosure.
Part A (in force already)
Information that, regardless of outcome, is always considered material for all properties regardless of location. This information generally involves unavoidable costs that will be incurred by the occupier regardless of the use of the property. Includes, Tenure, Council Tax, Price or Rent.
Information that must be established for all properties. It applies mainly to utilities (and similar), where non-standard features would affect someone’s decision to look any further at that property. Could include (inter alia), Broadband Coverage, Phone Signal Coverage, Parking Facilities.
Additional material information that may or may not need to be established, depending on whether the property is affected or impacted by the information. Applies to properties affected by the issue itself because of, for example, the location of the property eg and Covenants, Easements, Restrictions
Click here to see as much information as there is available at the moment on the National Trading Standards website and https://youtu.be/OqcfRWWtnDs to a short video they have prepared detailing the changes
Please feel free to contact our offices and ask for our Conveyancing Team on 0330 333 2613 should you have any queries on the buying or selling process or would like a quote to act on your behalf. Quotes can be obtained free of charge 7 days a week 24 hours a day via our website.
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