Friday, April 3, 2009

Would this make most of property flopping VIs criminals by default?

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 (940 views)
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3 thoughts on “Would this make most of property flopping VIs criminals by default?

  • 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.

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  • 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.

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