Are you planning to sell a home? Then you might wonder what type of information is best left undisclosed when their property is viewed by the buyers. Consult with a real estate agent and do what things may have a marked influence. 90% of real estate agents will advise the home sellers to not hide anything related to the property from potential buyers.
As part of the standard conveyancing process, the seller must completely fill in a “Property Information Form”, also known as a TA6. This document will inform buyers of any information about your property that they may not know. Any hidden issues must be disclosed before selling the property.
This document is a crucial part of the pre-contract documents, making it legally binding.
What must you declare when selling a property?
Applications for planning permission (e.g. pending, approved, or have been denied)
Location of the house whether it’s near to flight path or a motorway
Hidden defects such as asbestos or high carbon monoxide levels4
Building insurance details
Proposals for nearby development/construction
Any alterations or other building work going on the property (you must show certificates, applications for development, and planning permission details)
Outstanding debts associated with the property
Neighbor problems such as boundary disputes, noise arguments, and any neighbors with an Antisocial Behavior Order (ASBO) by the police
Pests or problem weeds in the property (e.g. rats, bats, or Japanese knotweed)
Crime rates in the surrounding area like neighborhood burglaries, and murders.
What you have to declare is subject to change when selling your property. The form will be updated and extended numerous times over the years. We recommend speaking with your solicitor when selling your property as they will advise what you should declare at the time.
How will the TA6 form affect my property sale?
Filling out a TA6 form will not affect your house sale much. Declare all the necessary information, it is up to your potential buyers to weigh up the issues. They will decide whether to head towards purchasing your property.
Depending on your declaration about the property and issues, you may find how long your property is on the market or the sale price will take a hit.
You should submit appropriate paperwork if there are any serious issues but it can make your home difficult to sell. For example, if your property or a neighboring property had Japanese knotweed, then produce the necessary paperwork for when it was treated, how it was treated, and the outcome. By providing the right information the buyers will trust you more and even purchase the property.
A lot of problems could arise with a property, from property disputes over boundaries and noise to dry rot and Japanese Knotweed. In such cases, the best way to increase the chances of selling a house with problems is to resolve all the issues before putting the property up for sale. By the way, it builds trust between you and the buyer.