'Caveat emptor' (let the buyer beware) is a fundamental principle of property purchase.
The buyer has to accept the property in the condition it is in when contracts are exchanged, so needs to find out as much as possible about the property before making that commitment.
The buyer's solicitors will therefore ask the seller a large number of questions about the property. A seller can refuse to answer the questions, but risks losing their buyer on the basis that there might be something to hide.
There are a number of basic enquiries which must be made: details about boundaries and fences; whether notices relating to the property have been served by or on the owner; if there are any disputes affecting the property with neighbours; if any guarantees have been issued by the National House Building Council {on property less than 10 years old} or relating to remedial treatment such as woodworm or damp in respect of double glazing or a new roof.
The buyer will want to know about gas, electricity and water supplies and whether the property is connected to the mains drainage system or served by a septic tank or cesspit.
Information will also be requested about any exclusive facilities such as a right of way over someone else's land, whether anyone else has rights over the property of if facilities are shared with occupiers of adjoining land.
Questions should also be asked about occupation of the property to ensure that everyone, including non-legal owners, are going to vacate on completion.
Most solicitors will use one of the various forms for pre-contract enquires and will also ask additional questions specific to the property.
Philip Popeck is a Partner at Curry Popeck, solicitors.
Call him on 020 8907 2000 or email him at philipp@currypopeck.com.
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