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Remus2004
Remus2004, Barrister
Category: Property Law
Satisfied Customers: 70199
Experience:  Over 5 years in practice.
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I recently received a letter form a solicitor regarding disclosure

Resolved Question:

I recently received a letter form a solicitor regarding disclosure that a house seller should make to a potential purchaser/ He said :"Disclosure to future purchasers
There is no requirement for a vendor to inform the purchaser of
a. Any problems with the property (if any exist);
b. Of any survey carried out by a vendor.
The equitable maxim of caveat emptor applies "

However another solicitor has said "Gone is the principle of caveat emptor, or buyer beware. The law in this area is very clear – if the seller or the agent has any information that is likely to have an impact on the value of a property or the buyer's enjoyment of the property, they must disclose it."
Who is correct?
What are the underlying regulations the govern disclosure? (i.e. the sections of the relevant law that govern this).
Submitted: 3 years ago.
Category: Property Law
Expert:  Remus2004 replied 3 years ago.
Thank you for your question. My name is ***** ***** I will try to help with this.

Caveat Emptor applies although the seller is under a duty to answer all the queries raised by the buyer's solicitors.

I would ask the solicitor that said that it no longer applies which statute or case law he is relying on

Here is a firm of solicitors that agrees and was the first one that I found on Google

http://www.ramsdens.co.uk/blogs/ramsdens-full/guide_to_buying_and_selling_property

Can I clarify anything for you?

Jo
Customer: replied 3 years ago.
Thank you for your answer. I just saw this on the RICS website which says that caveat emptor no longer applies: Apparently last year property sales came under the OFT regulations.

http://www.rics.org/uk/regulation/regulation-uk/guidance-for-regulated-firms/consumer-and-business-protection-regulations-cbrs-and-bprs/

Would you like to amend your answer?
Expert:  Remus2004 replied 3 years ago.
Thanks.

That is with regard to disclosure by agents not by a seller.

It says “Agents can no longer rely upon compliance with the Property Misdescriptions Act 1991 or caveat emptor to provide them with protection from prosecution”
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