Property Information Questionnaire (PIQ) is intended to be filled by a property seller and is designed to supply useful and simple information about a home or any other property. It informs prospective buyers and helps them to make decisions about whether or not to view a property or make an offer on such property.
Although the Property Information Questionnaire is to be completed by the person selling off the property, the questionnaire can however, also be completed by any other person holding the required authority to sell the property or to complete the Property Information Questionnaire. For example, the Property Information Questionnaire can be filled by someone with a Power of Attorney, or as a result of the fact that the seller is also the Executor of the property as quoted in a will.
According to the Government, the Property Information Questionnaire is a simple form which can be completed without any background legal knowledge or supervision. However, experts agree that there is a serious risk involved if the Property Information Questionnaire is incorrectly completed. Certain ‘negligent misstatements’ provided in filling the questionnaire could lead to problems for the seller later, as the transaction progresses. In addition, potential buyers could be put off from the property when the Property Information Questionnaire is incorrectly completed.
Certain questions posed in the Property Information Questionnaire are complex, sometimes requiring, where applicable, referencing copies of the property’s title deeds or lease. Documents relating to leasehold management information might also be required. In certain cases, a number of the information necessary to provide answers to questions within the Property Information Questionnaire may not be readily available. The time taken to acquire this information could considerably delay the sale of the property. Legal counsel may therefore make the process faster by providing information about the necessary documents to prepare before starting on a Property Information Questionnaire.
The Property Information Questionnaire is not a replacement for legal information or official documents, neither is the information provided within. The seller should be prepared to provide required legal documents to support the answers supplied in the form to the property lawyer. In addition, the prospective buyer’s conveyancer could request for evidence on any guarantees for work carried out on the property and those should be made available.
Primarily, the form is completed by the seller. This means the owner(s) of the property, or a representative. A representative could be someone selling the property for a dead owner or an owner who is still alive. The Property Information Questionnaire can also be completed by any other person legally approved in some other capacity to sell the property. In cases where the owner is unavailable to fill the form, it should be filled by the representative in the owner’s voice, i.e. as if the questions were being answered by the owner of the property.
Property Information Questionnaire requires answers to questions that would assist in the smooth sale of a property. Therefore, answers provided in the form must be truthful and as accurate as possible. Incorrect answers or other misleading information have the possibility of being exposed during the conveyancing process, consequently endangering the sale as well as make the seller liable for damages, even in cases where the property is not purchased.
It became mandatory, from April 6, 2009 for intending property sellers in England, Wales or Northern Ireland to complete a Property Information Questionnaire. Scotland’s variant of the PIQ is simply known as the Property Questionnaire, and contains essentially the same information required from sellers intending to put their properties on the market. The questionnaire is an essential part of the Home Information Pack, and is target at making the process of buying and selling homes faster.
The Communities and Local Government do not require the addition of a Property Information Questionnaire for homes put on the market before April 6th. However, an EPC must be provided. Energy Performance Certificates (EPCs) are a legal requirement for the rent, sale or building of property in the UK.
Supplementary important information that will be of help to the property buyer is required in the Property Information Questionnaire. The questionnaire seeks immediate answers to important aspects of the property.
The seller is required to provide the following information in the Property Information Questionnaire:
The questions in the PIQ are relevant, and easy to answer. And as long as the relevant legal documents are available, the services of a solicitor might not be required at the stage of completing a Property Information Questionnaire.
Property Information Questionnaire requires answers to general questions about the property to be sold. Such questions include whether the property has been altered in any way, whether guarantees are available for works carried out on the property, including double glazing or electrical wiring and if there have been disputes over the property in the past.
If the property is a leasehold, a Leasehold Information Questionnaire is more appropriate. It focuses more on the leasehold aspects, such as how insurance on the property is being handled, who the landlord is, how much maintenance charges cost, and so on.
In addition to the Property Information Questionnaire and Leasehold Information Form, a fixtures and fittings list needs to be provided during the sale of a property. This list itemizes the things that will be taken or left behind at the property after a sale has been completed.
The Property Information Questionnaire and information concerning leasehold properties and fixtures are necessary forms that the seller (not his or her estate agent) should complete in the process of a property sale. After completion, copies are then sent to both the seller and buyer’s solicitors.
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