Home Information Packs from 1st June

The Government are forging ahead with the implementation of Home Information Packs (HIPs) and have recently embarked on a national advertising campaign to increase public awareness.

After 1st June 2007 you will not be able to market your property, or instruct an Estate Agent to market it for you, without having a legally compliant HIP. The final Regulations will be confirmed on the 19th April and will confirm the “required” documents which must be included in a HIP. These are expected to be:-

• Sale Statement
• Energy Performance Certificate
• Title Documentation
• Title Plan
• Local Search
• Drainage and Water Search
• Leasehold Information (if applicable)
• New Homes Warranty (if applicable)

The Regulations are likely to allow a property to be marketed before the Local and Drainage Search results are received, if the HIP provider confirms that these have been applied for and they are added to the HIP within 28 days.  Other “authorised” documents can be added to the HIP, such as Home Condition Reports, Home Use Forms and Home Contents Forms.

Head of Conveyancing at Frettens Solicitors, David Walton, oversees one of the largest residential property teams in the south, with nearly 40 staff working on home sales and purchases. He comments “There has been much scepticism that HIPs would become compulsory, and some confusion about the Regulations. Everyone must now be aware that HIPs will become compulsory in less than 2 months - it is important because, from June, every time you market your property without a HIP you could be fined £200.00.  An Estate Agent could be fined up to £500.00.”

A basic legally compliant freehold HIP should cost in the region of £400.00 - £450.00, likely to be payable at the time of ordering. Frettens can prepare the HIP and advise on all aspects of your sale and the legal process involved.

If you are considering selling your property now or after 1st June or would like further information please contact David Walton. Frettens provide a full range of specialised legal services to private and commercial clients, with a modern, common sense approach.