Friday, Apr 03, 2009
Would this make most of property flopping VIs criminals by default?
24 dash com: Home sellers face 'swathe of legal consequences' over PIQs
The introduction of the Government’s latest addition to the Home Information Pack (HIP), brings with it a 'swathe of legal consequences' for those selling homes, according to a property law specialist.
From April 6, sellers will need to fill out a Property Information Questionnaire (PIQ). The PIQ is a set of mandatory questions about the property. Most importantly, it commits a homeowner to make representations that have legal ramifications even before a contract has been agreed.
Posted by peter_2008 @ 07:54 PM (601 views) Add Comment
3 Comments
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1. peter_2008 said...
And link to main media, too.
http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/5094655/House-sellers-could-be-sued-under-new-Home-Information-Pack-rules-warns-law-firm.html
2. Redcellar said...
errr, doesn't this make absolute sense. In any other business a seller providing misleading information would be liable. So hoorah for sanity. Seems there are no negatives in this one.
3. str 2007 said...
I heard an estate agent puffing about this on R4 yesterday.
They'll be problems shifting some houses now.
But absolutely correct that buyers of £2-300k items whatever they may be should have some sort of understanding about what they maybe buying.
It has never ceased to amaze me, particularly through the bubble, that you'd be expected to spend less time looking at a house for £300k than a 2nd hand car for £3k.