Seller’s Property Information Form – Are you exposed ?

A recent comment in an online blog in response to the article in the Daily Telegraph about the risks associated with Property Information Questionnaire ( PIQ )  points out as follows “….another problem when completing the Property Information Questionnaire online (as is often the case) is that there is no way of qualifying one’s answer.  I had to fill in one of these forms (PIQ) today giving the “current management charges”.  On face value these seem ludicrously high but that is because we have just had the exterior of the building (listed) renovated.  Next year’s charges will revert to normal but there is no option but to inform interested buyers of this”. 

I thought I would take the opportunity of elaborating that this is not a problem that is limited purely to online conveyancing forms  or Property Information Questionnaires  but also to printed versions of conveyancing forms which almost all sellers are expected to complete as part of the conveyancing process such as the Sellers Property Information Form.  

The Sellers Property Information From does not encourage qualification of the answers.  I would  encourage all  sellers to elaborate on the answers on the Sellers Property Information Form and add clarification to the  answers. Sellers should not be scared to edit the form or elaborate on answers.  If unsure please consult your conveyancing lawyer ( after all you are paying for them to protect you ).

The best advice is that once you have completed a Sellers Property Information Form try and look at the completed form objectively, as if you  were a purchaser in the conveyancing processes or perhaps even print it off and ask a neighbour or family member to look at the form objectively and see what questions immediately spring to mind from that person.  You should then revert back to the form  and clarify the answers as best you  can.