Earlier this year it was announced that a new Buying and Selling Property Information Form (BASPI) is in development. The form will contain all the information needed to sell a property in one place, improving the selling process and making transactions quicker and less stressful for both buyers and sellers.

 

The new BASPI form is expected to form part of the contract for sale in the legal process of selling a property. It includes details relating to fixtures and fittings, disputes, any issues relating to the property, as well as legal information regarding boundaries, occupiers, and insurances.

 

The form will also require a unique property reference number (UPRN) to be included, which will enable all parties involved in the conveyancing process to share, manage, and link information about the property electronically. UPRNs are assigned to every addressable property in the country and will remain so for as long as the property exists, like a car registration number. UPRNs will enable anyone involved in the selling process to be sure that they are communicating about the same property with confidence. This digital system is much better than simply using an address as not everybody records an address in the same way. Not only will the inclusion of the unique identifier on the new form bring the process into the digital age but it is hoped that it will also help to speed up the conveyancing process by enabling more data sharing electronically.

 

The BASPI form recognises that property ownership is becoming increasingly digitised and will also include questions relating to ‘smart home’ systems built into the property, such as central heating controls, meaning that buyers are able to control these features as soon as they take ownership of the property. Sellers are also asked on the new form if they keep a digital record of information relating to the running of the home and where this information can be found.

If you are buying or selling a property you can search for a regulated solicitor for free and without having to provide any of your personal details on our website at search4legal.co.uk. Alternatively, you might want to read our other Guidance relating to buying or selling a house, such as Joint property ownership and what you need to know, Why conveyancing costs are going up or  Buying a new home with the help to buy scheme.