What is caveat emptor and do you need to be aware of it
Selling a house is done with 'Buyer Beware' known as Caveat emptor - i.e. it's up to the buyer to discover anything that's wrong with your home. There are potential legal and financial repercussions for being less than honest with a potential buyer. To avoid legal difficulties, you will need to provide certain information.
It’s important to know you’ll legally need to declare all of the positive and also the negative details of your home. Failing to do so could see you ending up in court. That’s because the buyer must have complete information to enable them to make the right decision before buying it.
You should for example disclose information on and planning permission and your property boundaries between you and neighbours like having an ‘unregistered easement’ which may be something like a right of way that isn’t detailed on the title deeds will potentially cause an issue. Also its wise to notify any potential buyers of any neighbour issues
Moreover, it is important also to disclose any building and alterations that has been carried out in the property. Plus, if any defects such as cracks appearing in the walls faster than they can be filled in etc.
Of course you chosen solicitor will be able to guide you through what you need to disclose or not. That’s what they are there for.
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To learn more email dennis@mauinvestments.co.uk or call 01332981666 o