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A Changing Landscape for Sellers and Estate Agents

The information which sellers and estate agents are required to provide to buyers has changed and with it, so has the conveyancing landscape.

In times gone by, the caveat which governed the conveyancing process was Caveat Emptor – Buyer Beware. Simply, this meant that it was for a buyer to investigate a property and satisfy themselves before committing to purchasing it. However, that has now changed.

Trading Standards has published the long-awaited Parts B and C of their Material Information Rules. Sellers and their estate agents are now expected to disclose additional information such as the building materials used and information about utilities and parking.

This might not sound too bad. However, the snag is if there are specific issues which affect the property such as a flood risk, easements, or restrictive covenants. The seller and their estate agent must now disclose these to potential buyers.

The law surrounding restrictive covenants and easements can be complex – even their names seem purposefully obscure to the average person. Yet a good conveyancer can translate the law and guide you through these new processes. For example, restrictive covenants are promises which bind the land and each owner of it, such as a rule the property is not to be used for business purposes. Whilst easements are often rights which benefit the property, such as the right to walk along a shared footpath.

Bringing an experienced conveyancer on board at the very beginning, is a great way to help ensure the right information is available to the estate agent for marketing purposes and will ensure any issues are addressed at an early stage. Therefore, helping to create a much smoother property purchase for all parties.

The conveyancing team at Morr & Co are committed to helping buyers and sellers at every stage of the purchasing process and would be delighted to support you.

How can Morr & Co help?

If you need assistance with any of the above, please contact our Residential Conveyancing team on 01737 854 543 or by emailing [email protected].

Disclaimer

Although correct at the time of publication, the contents of this newsletter/blog are intended for general information purposes only and shall not be deemed to be, or constitute, legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article. Please contact us for the latest legal position.


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