What is a Property Information Questionnaire and why should you complete one?

When you instruct an agent to market your property, they should ask you to complete a Property Information Questionnaire. Here at Wishart Estate Agents, as our clients know, this has been common practice for many years now.

This form is required to ensure that the Consumer Protection from Unfair Trading Regulations 2008 are complied with during the marketing of the property and must be completed as accurately as possible. Under the Consumer Protection from Unfair Trading Regulations 2008 it is important to disclose anything that would materially affect the transactional decision of the average consumer.

The PIQ is completed in two parts. Part A: Disclosure of material facts. Getting the property ‘Market Ready’ The information which you provide must be accurate. Whether you are the owner of the property or represent someone who has died or is unable or unavailable to complete the form, the form should be completed as though the questions are being answered by the owner.

If you do not know an answer to a question then that is fine, but you must provide as much information as possible and not omit information. The information will be used by the conveyancers representing yourself and the buyer during the conveyancing process and will support the sale of the property.

REMINDER: if any of the information changes before you complete the sale then you should let your agent and conveyancer know as soon as you become aware of the new information.

Instructing your conveyancer when you instruct and estate agent to sell your property will mean that they can review the information which you have provided and help you resolve any title defects or replace missing documents. This will significantly speed up the sale and reduce the likelihood of the sale falling through.

Part B: Additional information required for the conveyancing process. Getting the property ‘sale ready’

Whilst you only need complete the information in Section A to enable the property to be marketed, by completing Section B at the same time you may save both time and money during the conveyancing process. Therefore we recommend that you complete all sections at the same time.