HIPs News

15 - 4 - 2009

HOME INFORMATION PACKS - UPDATE

Hips

 

Home Information Packs


As from the Monday 6th April 2009 a property will not be able to be marketed unless the Home Information Pack contains:


1. Index
2. Sale Statement
3. EPC
4. Property Information Questionnaire
5. Office Copies and Title Plan
6. The Searches (Local and Drainage)
7. If Leasehold, a copy of the Lease

The property Information Questionnaire is the new document for inclusion in the HIP and will be completed by the Seller. It contains basic information about the property that will be of assistance to potential buyers.


Another change is that it will be advisable to have a full, official Local Authority Search included in the HIP. Personal searches with insurance cover for unanswered information will no longer be accepted.


Another change is that the HIP must be completed before marketing can commence ( although marketing can start without the search documents 14 days after their request if they are not yet available but are expected to be available within 28 days of the original request)


 A HIP is valid until the property is sold and there is no obligation to update any documents in the HIP whilst the property remains on the market. If the property is sold, but the sale falls through the HIP is still valid provided the property is remarketed within 28 days of the sale falling through. If the property is NOT remarketed within 28 days a new HIP will be required.


A HIP is not required if the property is not marketed for sale and further, if sell your property to a friend or a relative then again a HIP is not required, but you must always obtain an Energy Performance Certificate.


There are many companies who offer HIPs, but it is advisable to use a firm of Solicitors for the compilation of the HIP as we can provide you with legal advice regarding the completion of the documentation, including the Property Information Questionnaire.
When you decide that you want to sell your property contact Thackray Williams and we will be pleased to provide you with a quotation for the preparation and supply of your HIP and we can also act for you in the subsequent sale and any associated purchase at competitive rates.


For further information on HIPS please contact Kevin Gauntlett on 020 8776 3882 or Kevin.gauntlett@thackraywilliams.com