A proposal to further enhance the home buying process for consumers by presenting information in a simpler way in a Home Information Pack (HIP), was announced recently. A consultation is underway to include a Property Information Questionnaire (PIQ) as a mandatory part of HIPs. The PIQ will offer important information for buyers in a way that is easy for sellers to provide without professional help. The aim is to reduce issues coming to light later in the process that cause delays or aborted transactions.
Housing Minister Caroline Flint said: “Having the right property information at the beginning of the home buying process is essential if we are to reduce delays and wasted costs for buyers and sellers. HIPs are an important first step in achieving greater efficiency and the PIQ will only improve on this.”
David Walton, an Associate from Frettens' New Forest Residential Property Team, at Frettens, explains “The PIQ would include information such as building work on the property, energy and utility information, parking arrangements and council tax banding. If the consultation recommendations are accepted the PIQ would become part of the HIP from 1 January 2009.”
Click here for more information about HIPs or to order a HIP from Frettens.