How bad a problem is it?

Surface cracks, like hairlines between plasterboard panels, are common. More serious cracks might also be excusable in old houses that have settled over decades or centuries. However, in the latter case, anything that was hidden when you showed around your purchaser, perhaps because it was behind a piece of furniture, should have been drawn to their attention before they agreed to the purchase or, if you were unaware of it, be addressed before you move out. Issues should also be detailed on the TA6 property information form that will need to be completed and passed to the buyer’s solicitor.

While you might argue that potential buyers should always commission a survey and that, if they don’t, any problems that only became apparent after completion are their responsibility to repair, you won’t always succeed.

“If the problems are discovered prior to completion, a buyer can either pull out of the sale outright, or make demands such as that the seller reduces the price or pays for the problem to be fixed,” says Seymour Estates. “If they are discovered after completion, all is not lost [for the purchaser] either, and if a buyer can argue that the seller misrepresented the condition of the house, whether intentionally or not, compensation can be sought.”

The buyer’s claim would most likely be brought under the terms of the Misrepresentations Act 1967.

However, as Levi Solicitors points out, the circumstances under which a purchaser can make a claim are limited, and the action itself may be costly. “There is also the added burden that a purchaser should carry out all investigations of the property before purchasing to satisfy himself. The vendor could argue that the issue would have been discoverable by inspection. A misrepresentation claim is a last resort and should only be used if the damage to the property is substantial and that there is a good chance of a claim succeeding.”

Appliances that are being included as part of the sale should likewise be in appropriate condition. A fan oven in which the fan no longer spins, or a boiler that needs to be manually coaxed into action each morning, shouldn’t come as a surprise to the new buyer when they move in.

What if the problem has just cropped up?

Whether you are the seller or the buyer, property transactions are drawn out, complicated, stressful and tiring – not to mention time consuming? Everyone wants to bring them to an end as smoothly and swiftly as they can.

It can be tempting, therefore, to keep quiet about a problem that arises late on, particularly if it might lose you your buyer. Doing so, though, could just be storing up problems for later. When you have completed your sale, you don’t want to spend the next few months, when you should be enjoying your new home, worrying that a letter from your buyer’s solicitor is about to come through your door.

Talk to your own solicitor, as they will be able to advise you on the best course of action and, if their opinion is that the issue needs to be disclosed, at least you will be covered. You won’t necessarily lose your purchaser, but they may ask that the problem be made good prior to completion, or some allowance is made in the price for them to arrange a repair once they have moved in.

While this may be disappointing, at least you will have peace of mind – and it’s difficult to put a price on that.