Pre-contract Enquiries Flashcards
When is CPSE1 required?
Commercial property transaction
When is CPSE2 required?
When property is subject to commercial tenancies - eg lease/ purchase of part
When is CPSE3 required?
Grant of new lease (eg when acting for tenant on an industrial estate)
What is covered in CPSE1?
- Responsibility for boundaries and their extent
- rights benefiting and burdening property
- access to property
- physical condition
- contents
- utilities and services
- planning and building regulations
- occupiers and employees
- noticed and disputes
- VAT treatment
Where to check VAT treatment on a commercial property?
CPSE1
Where to check rights benefiting and burdening commercial property?
Official copies
CPSE1
Form used for pre-contract enquiries in residential transaction?
TA6 - property information form
TA10 - fittings and contents
TA7 - leasehold information form
TA8 - new home information form
Form used for pre-contract enquiries for purchase of new home?
TA8 - new home information form
Does ‘not so far as seller is aware’ in response to pre-contract enquiries absolve seller of liability?
Not if answer should have been ‘yes’
- implies seller has conducted all reasonable investigations and has no knowledge of defect
When are damages available for incorrect responses to pre-contract enquiries?
Only where there is a ‘material difference between representation and actual description or value of property’