There are many different types of property professional, offering a range of services. Given that property is one of the most significant and important assets or investments an individual can make, the job of a property professional brings with it a great deal of responsibility.
However, in the event that a professional acts without correct care and performs a negligent level of service it may be possible to make a property professional negligence claim in the event of financial loss.
Managing agents and estate agents
There are various pieces of legislation which make it possible for an individual to claim for property professional negligence of managing agents and estate agents, including the Consumers, Estate Agents and Redress Act 2007, the Occupiers Liability Acts, and the Property Misdescriptions Act.
Surveyor and valuer negligence
Surveyors and valuers have, through negligence, the potential to cause significant financial loss, with claims for this type of negligence particularly common among buy-to-let investors and developers.
Since the turn of the millennium there has been a surge in the number of claims for over-optimistic valuations.
Property valuation negligence claims can be complex and the law tends to allow for some margin of error. However, for most residential properties this margin is set at five percent, with allowable margins rising for more “exceptional” properties.
Residential property conveyancer negligence claims
If a solicitor has failed to submit vital documents within allowable time frames, has failed to notify the client of an essential detail or legal title, or has committed some other potentially negligent act, it may be possible to pursue damages, provided the amount of financial loss sustained means there is cost-benefit to the legal action.
Property professional negligence specialists in London and the South
For more than three decades Healys LLP has been providing its clients with clear and affordable legal advice.
Our professional negligence partners can help fight your corner if you have suffered financial loss as the result the negligence of a property professional, helping you ensure an appropriate amount of damages.
Contact our Brighton or London teams for information.