According to a new study by Churchill Home Insurance only 40% of estate agents ask sellers to reveal any issues they may have with their neighbours, 10% of estate agents just rely solely on the purchasers’ solicitor or conveyancer to investigate any existing issues they may have.
It is a legal requirement to disclose any disputes with neighbours to any potential buyers, according to Churchills nuisance neighbours can devalue the property by more than £6,000 or even lose the sale, anyone deliberately misleading a buyer to purchase could face expensive legal action further down the line.
Of those estate agents that do ask sellers to disclose issues, more than half of the estate agents surveyed identified communal space as the major centre of disagreement between neighbours. This was followed by noise complaints (10%) and boundary issues (8%). Other troubles include anti-social behaviour and complaints about dogs.
Martin Scott, head of Churchill Home Insurance, reportedly said: “Buying a property is one of the most expensive decisions many of us will ever make. As such, we are well within our rights to be informed about issues that may affect our buying decision. Buyers should ask their estate agent to disclose as much as information as they can about the property, seller and neighbours to help the buyer make the right decision.”