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The Property Practitioners Act has provisions for both property owners and their agents to fully disclose any current defects which they are aware of to prospective buyers or tenants or face serious fines and even jail time.Should a seller mention the roof tiles that blew off five years ago and had to be replaced or the gutters that rusted and were replaced three years ago with PVC ones?
Writing in the Property Signpost newsletter, Chas Everitt International CEO Berry Everitt notes that the PPA Regulations define a defect as “any condition, whether latent or patent, that would or could have a significant deleterious or adverse impact on or affect the value of the property; that would or could significantly impair or impact upon the health or safety of any future occupants of the property or that, if not repaired, removed or replaced, would or could significantly shorten or...
“Previously occurring structural defects, however, could be quite another matter, even if they were successfully repaired at some time because their existence at any stage in the history of the home could affect its lifespan and value and thus have a big influence on any decision to purchase or rent.'
“But as a home buyer, it is likely that you would think twice about buying a home if you were aware that it had developed major cracks at some stage due to soil subsidence, even if the cracks had been expertly repaired and were not visible at the time of viewing. This would be akin to buying a vehicle that you knew had been in a serious accident but was subsequently repaired and currently appeared to be in good order.
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