HIPs (Home Information Packs)
Following an extensive consultation process with the Office of the Deputy Prime Minister the Government has decided that Home Information Packs (HIPs) will be compulsory from the 1 June 2007.
All sellers will be required to provide a HIP before their property is put on the market. The HIP, which must be made available to all prospective buyers, is a full package of documents about the sale property. This report will have to be carried out by a qualified home inspector at the seller’s expense.
The pack will also contain copies of searches and property information including copies of planning permissions, guarantees, the lease and leasehold information (if applicable) and, to comply with an EC directive, an Energy Performance Certificate.
Anyone not providing a HIP when selling a property will be liable to pay a penalty
At Taylor Willcocks we have been carefully monitoring the legislation and have been advising estate agents and other property professionals about HIPs. We have the expertise and professional knowledge to deal with the preparation of the pack. If you are a prospective seller of a property, or an estate agent dealing with a sale, we are able to provide you with advice on the full effects of the HIPs legislation.
For more information about HIPs please contact Sarah Addison on 020 8642 8142 or email sarah.addison@taylorwillcocks-cheam.co.uk.