The UK housing market has seen a soar in sales since the Chancellor announced a stamp duty holiday that would last until March 2021. The residential property pipeline is up by 50% on this time last year.However, this is creating a backlog and there is some concern that not all properties with sales agreed since the announcement will complete in time to be able to enjoy the relief of up to £15,000.
No cutting corners
When purchasing a new home, the buyer will ask questions to the seller to find out information about the property. This may include questions about:
- Neighbour disputes
- Planning consents for any changes to the building
- Notice of any planning applications received in respect of nearby land
- Maintenance of appliances such as boilers
- Guarantees on replacement fixtures such as windows
If a seller denies or lies about the extent of any problems with the property when asked as part of the conveyancing process, this could result in a claim against them by the purchaser for misrepresentation.