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THE IMPORTANCE OF GIVING ADEQUATE DISCLOSURE

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THE IMPORTANCE OF GIVING ADEQUATE DISCLOSURE

Sellers often downplay the importance of giving adequate disclosure in the property condition report which is attached to the sale agreement. At present, it is not a legal requirement for the report to be attached to the sale agreement although recommended by the Estate Agents Affairs Board; but the law is about to be changed shortly to make it compulsory. Either way, it is best to give proper disclosure of the property 's condition in that report, simply because it is honest and the right thing to do. Also, if there is clarity upfront on the condition of the property, later disputes - that so often delay transfer or end in costly litigation - can be avoided.

Author STBB
Published 27 Oct 2021 / Views -
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