The BASPI, which was developed by the Home Buyers and Sellers Group (HBSG), acts as a “single source of truth” and is designed to include all the information required on a property when it goes on the market.
The pack is split into two parts, with Part A covering the disclosure of material facts mandated by regulation and Part B includes additional information needed to the legal process.
Part A includes information on 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.
The latest version of the BASPI introduced eight questions to make it easier to pre-populate forms used by stakeholders.
This includes moving away from specific questions on buildings regarding the external wall system form to wider questions on overall building safety and remediation. This aims to capture seller’s knowledge in building safety since the Building Safety Act came into force last year.
Other changes include requests for information due to the National Trading Standards Estate and Letting Agent Team (NTSELAT) guidance on mandatory material information to be provided at the point a property is put up for sale.
‘Allowing consumers to make fully-formed decisions’
Beth Rudolf (pictured), director of delivery at the CA, said: “Every year we conduct a full review and industry consultation to ensure the BASPI is up to date and reflects any changes in law, and ongoing updates that may be required.
“This is the fourth iteration of the dataset and it includes a number of changes that will ensure it remains fit for purpose and it retains all the information required for a property sale at the outset.”
She continued: “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, and I would like to thank all those who have taken the time to work on this project and help us deliver this next-generation BASPI dataset.”
Rudolf added: “Our thanks in particular go to RICS and to the Property Data Trust Framework Sub-Group of the HBSG who are updating the Schemas to ensure the data captured by the BASPI can be used interoperability between systems and the provenance of that data can be authenticated.”
Simon Law, SLC’s chairperson, continued: “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.”
