Material Information: What Sellers Should Disclose When Listing a Property in Wembley

Before you list your home, be prepared for your estate agent to go on a fact-finding mission. They’ll ask you lots of questions about your property because they’re following industry best practice by compiling what’s known as ‘material information’.

Material Information: What Sellers Should Disclose When Listing a Property in Wembley
This is defined as “information which the average consumer needs, according to the context, to make an informed transactional decision”.*
 
In other words, material information saves everyone time by letting buyers know as much as possible about a property from the outset.
 
It helps prevent a buyer from getting cold feet and pulling out of a sale because new information has come to light. It also helps build trust between buyer and seller.
 
Where to find material information

You’ll find material information included in a property’s online listing. Agents also often provide an information sheet containing this information before a viewing.
Trading Standards states that material information must be accurate and not set out to pull the wool over a buyer’s eyes.
If new details become available at any stage, an agent should update the material information in a timely manner.

What’s included in material information

Here’s a guide (albeit not an exhaustive list) as to what should be included in all property listings.
• Council Tax or domestic rates
• EPC rating
• Asking price
• Tenure – for example, whether the property is freehold, leasehold or shared ownership
• Property type (e.g. bungalow, semi-detached)
• Materials used in construction such as a thatched roof or timber-framed windows
• Number and type of rooms
• Information about electricity, water supply and sewerage; making reference to features such as solar panels, boreholes or cesspits
• Heating, such as a gas boiler, heat pump or wood burner. If there is a communal heating system in a block of flats, supply information about how charges apply
• Broadband
• Parking

Other relevant information

There’s another category of information that should be included, but only if it’s relevant to the property in question. This includes:
• Building safety issues such as unsafe cladding or the presence of asbestos
• Restrictions such as tree preservation orders or historic listing
• Rights and easements such as public footpaths or bridleways
• Risk of flooding or coastal erosion
• Planning permission or proposals that would affect the property. For example, if land next to a property is to be developed
• Accessibility adaptions such as ramps or lifts

Be prepared

When you decide to sell your home, it’s helpful to get together any information or documents you have that are relevant to the property, including the title deeds (so that an agent can check if you have the right to sell the property).

This will save everyone time and help your property get to market sooner.

If you’d like a free property valuation, contact us here at Grey & Co today.

* Consumer Protection from Unfair Trading Regulations 2008













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  Hello, my name is Abigail, and I am the Grey in Grey & Co. I started working here in 2002 as a Junior Negotiator and have worked my way up the ranks since then. I took over running the company in 2014 and have been enjoying the roller coaster that is leadership ever since.   During my 20 plus years at Grey & Co I have dealt with the sale of over £100,000,000 worth of property and overseen the management of assets worth £250,000,000 for clients around the world.   I also had the pleasure of working with my father, the founder of Grey & Co, for 15 years before he sadly passed away and from him, I learnt the work hard ethic and our values today are still the ones that he founded the company on all those years ago.   Be Remarkable, Be Passionate, Be Humble and Be Better.   As a community centric boutique family agency, you couldn’t find a better partner to take with you on your property journey.

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