Upfront information: Fourth iteration of BASPI launches

Trade and representative bodies representing the legal, surveying, estate agency and property management sectors have announced the launch of the fourth iteration of the Buyer and Seller’s Property Information (BASPI) form.

The BASPI, developed by the upfront information working group of the Home Buyers and Sellers Group (HBSG), aims to be a “single source of truth” dataset including all the information required ahead of the sale of a property.

Information provided in the BASPI allows the seller to ensure their property is both “Market Ready” and “Sale Ready”, said the Conveyancing Association announcing the new form’s launch on Friday.

Split into two parts, Part A asks for information regarding disputes and complaints, alterations and changes, notices, specialist issues, fixtures and fittings, utilities and services, insurance, boundaries, rights and informal arrangements, and any other issues affecting the property.

Part B covers legal ownership, legal boundaries, services crossing other property, energy, guarantees, warranties and indemnity insurances, occupiers, and completion and moving.

This new version of the BASPI introduces eight new questions to be answered with the aim of making it easier to pre-populate the forms used by stakeholders in the homemoving process. Further explaining the new form, the Conveyancing Association said:

“The major change in this iteration comes with a move away from a specific question on building safety regarding the EWS (External Wall System) form, to a wider question on overall building safety and remediation to capture anything within the seller’s knowledge about building safety since the publication of the Building Safety Regulations under the Building Safety Act.

As the BASPI is completed by the seller it will be verified via the Leasehold Property Enquiry Form (LPE1) by the Lease Administrator but should provide a heads up to conveyancers much earlier in the process.”

There are also more requests for information as a “direct result” of the National Trading Standards Estate & Letting Agent Team’s (NTSELAT) guidance on mandatory material information to be provided at the point of listing.

Beth Rudolf, Director of Delivery at the Conveyancing Association, commented:

“This is all about ensuring stakeholders secure the information they need to be able to confidently provide it to consumers allowing them to make a fully-informed decision about the property and whether they want to proceed with plans to purchase. Our work within the HBSG will continue and we aim to ensure the BASPI remains relevant and up to date.”

Simon Law, Society of Licensed Conveyancers (SLC) Chairperson, added:

“The SLC is entirely supportive of the principle of upfront information and use of the BASPI, which continues to evolve and develop in an ever-changing world. It is an important tool that estate agents and vendors can use to help deliver important information early in the process to better inform potential buyers and speed up transactions.”

Mairéad Carroll, Senior Specialist, Property Standards at RICS, said:

“RICS is pleased to support the work to develop and update the BASPI. With the push towards getting more upfront information at the start of the sales process, integrity and accessibility of the data will become essential to ensure transactions progress smoothly, benefitting both the buyer and seller.”