3 Legal Issues Home Sellers Must Be Aware Of
Selling a house can be an intricate process, especially when it’s your first time and you don’t know what to do.
It is marked by a myriad of legal processes that can pose problems if overlooked or ignored. Unfortunately, some sellers fall into this trap and make mistakes where the house transaction is concerned. Although UK houses are now selling £18,000 below general asking prices, a wrong legal move can mar the process, and you might end up paying hefty fines. That’s why it’s essential to be aware of the possible legal issues that can arise when selling your home, including those below.
1. Problems with the property information forms
The TA6 is a property information form critical to the home-selling process. It is a document that encompasses compliance with building and planning applications – something home buyers deserve to be aware of before completing the financial transaction. As a seller, you are required to disclose crucial information about the property to the buyer who has decided to purchase the building. Information about the property includes boundaries with neighbours, any disputes related to the property, alterations, and environmental issues. Failing to make this document available or downplaying the essence of accurate and comprehensive information can bring you legal problems. You must ensure that the form is properly filled and explanations written in clear language devoid of ambiguity. Without due diligence, you risk legal implications that can harm your reputation and house sale transaction.
2. Failing to use the right legal expertise
Engaging experienced solicitors for a home-selling process is a critical stage of the transaction. The legal transfer of property ownership involves a series of paperwork, signatures, and confirmations to ensure the sale is secure. An experienced solicitor will draft contracts, conduct searches, and ensure there are no legal complications down the line. As the seller, choosing a reputable solicitor with expertise in property law is essential. Firms like Andrew & Andrew Solicitors have extensive experience in UK property transactions, providing the guidance needed to navigate the conveyancing process smoothly. With the right legal support, you can ensure a seamless and stress-free home sale.
3. Missing disclosure
Missing disclosures in a house sale transaction is problematic, but unfortunately, it happens often. Failing to disclose relevant information about the property you’re selling can land you into legal hot waters. You have a responsibility to exercise the utmost transparency in the transaction to avoid the legal inconveniences of not doing so. Many sellers have found themselves dealing with legal actions even after the house sale has been completed, making it vital to be on guard. House sellers are expected to build trust with buyers, and one way to do this is through transparency and truthfulness. It is particularly important for the future, especially when you will be selling more houses. This way, you avoid having a bad record among buyers.
The legalities of a house sale are necessary, so make it a point to factor them into every stage of the transaction process.