Trade bodies representing the legal, surveying, estate agency and property management sectors have launched a new version of the Buyer’s and Seller’s Property Information form (BASPI).

The BASPI, developed by the information working group of the Home Buyers and Sellers Group (HBSG), contains all the information required about a property when it is put on the market for sale.

According to the Conveyancing Association, one of the bodies involved in the launch of the new BASPI, the form is designed to speed up the legal process of property sale and purchase, with the information provided allowing the seller to ensure their property is both “market ready” and “sale ready”.

The latest version of the BASPI, its third iteration, contains several amendments including new requirements such as the Unique Property Reference Number (UPRN) for the property, information if the property is shared ownership, leasehold details, spray foam insulation as well as smart home systems information. For the first time, information regarding whether the property has a digital property logbook which will be transferred on completion is also required, as is detail on where it is held.

Director of delivery at the Conveyancing Association, Beth Rudolf, commented: “We are very pleased to be launching this latest version of the BASPI, which updates the required information and by doing so, helps all stakeholders in the process secure the information they need to provide to consumers, who can then use it to make a fully-informed decision about the property.

“This is another step forward, and the upfront information working group within the HBSG will continue to review the BASPI regularly to ensure it continues to meet the needs of everyone involved in a property transaction.”

RICS global data and tech lead, Andrew Knight, said that in helping to deliver the BASPI, RICS has recognised the the “critical importance of trusted, digital information” to support the home buying and selling process, while head of redress at The Property Redress Scheme, Sean Hooker, said the move is “another huge step forward” in establishing a single and trusted source of information required for property transactions.

The new BASPI follows on from the start of a National Trading Standards Estate & Letting Agent Teams (NTSELAT) three-phase project on improving the availability of upfront information in the conveyancing process.

NTSELAT senior manager, James Munro, added: “We welcome the launch of the new version of the BASPI, a brilliant example of industry pulling together to make things better for everyone involved in the conveyancing process. This new form will make it even easier for agents to provide the required material information when marketing a property, which will lead to fewer unnecessary enquiries, swifter sales and increased consumer confidence in the industry.”

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