If a surveyor finds a fault do you have to tell all future buyers?

Mortgage_Moog

Imagine that you're selling your home and the first buyer pulls out because their surveyor finds a problem. It could be damp, a dodgy wall, anything like that which you weren't aware of as the owner. Do you have to tell all future prospective buyers that this problem has been found?

This is just a question I'm wondering about, I'm not in this situation.

pinkshoes

I would, and if it was something I wasn't aware of, I would either sort it out or reduce the price to reflect this.

Otherwise I guess you are just hoping for a buyer who does not pay for a survey?? Seems a bit pointless not disclosing it.

deFoix

I don't believe these is any legal requirement to act in good faith as long and you don't mislead?

Chanes

Yes. Others will have surveys and know you hid problems from them when they know there were other buyers; form your own opinion of how they will consider you.

G_M

There are various aspects to this:

* it was not your surveyor so he did not inform you of the problem. Most likely you heard it 4th hand: surveyor to buyer to EA to you

* you do (I think) have a duty to inform a buyer of anything that might affect their decision of which you are aware

* many surveys include speculative or unconfirmed suspicions (damp that needs 'further investigation' etc) which cause FTBs in particular to panic and withdraw - even if the problem in reality does not exist

Consumer Protection from Unfair Trading Regulations 2008

http://lawspark.org.uk/property-law/what-must-sellers-disclose-when-selling-their-property/

nubbins

I would say yes, especially if any problems have been documented.

http://www.hamhigh.co.uk/property/when_selling_my_house_am_i_legally_obliged_to_disclose_any_information_that_may_affect_a_potential_buyer_s_decision_1_4170528

deFoix

G_M wrote: »

* you do have a duty to inform a buyer of anything that might affect their decision of which you are aware

I'm not sure that's right. Depends on the sale agreement but I thought it was only a subset of defects?

kilby_007

Legally, probably not. Morally, without doubt yes.

debtnav

I agree that morally it's the right thing to do. If I suspected that a vendor hadn't been totally up front I'd look for another property.

G_M

Boler1985 wrote: »

I'm not sure that's right. Depends on the sale agreement but I thought it was only a subset of defects?

Yeah I'm not sure either now.

though I think it's true of EAs.

Think I'll stop trying to talk about something I'm unsure of!

Grenage

I'm not aware of a requirement, but when selling my last place, the paperwork asked if I was aware of any defects such as damp, movement, etc.

Obviously if you lie, and they can prove it, you might have a problem.

Obviously you should be up front about major defects; things like a window that won't open, or an ill-fitting carpet aren't really of concern.