Image Image Image Image Image Image Image Image Image Image

Iceni Magazine | May 21, 2024

Scroll to top

Top

3 Legal Issues Home Sellers Must Be Aware Of

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. You must be aware that the legal transfer of property ownership is marked by a series of paperwork, signatures, and confirmations to ensure the sale is sound and secure. An experienced solicitor will draft contracts, conduct searches, and leave no stone unturned to ensure that the sale is legitimate and won’t pose legal problems in the future. As the seller, you should choose a reputable solicitor with immense property law expertise. Someone with an intricate understanding of the UK property market will be a gem to have when you decide to sell your house. The conveyancing process is a delicate stage of the house sale transaction, so ensure you have the right solicitors to help you navigate the terrain.

3. Missing disclosure

missing disclourse

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.


Visit Us On TwitterVisit Us On FacebookVisit Us On InstagramCheck Our FeedVisit Us On Pinterest