A number of important changes concerning the provision of Home Information Packs (HIP) come into force today.
From today a property can only be put on the market when all HIP required documents have been commissioned. Any document omitted at the first point of marketing should be available within 28 days, their absence and steps taken to obtain these documents being noted in the HIP.
HIPs are now required to contain a Property Information Questionnaire (PIQ). The Property Information Questionnaire will include a summary of information about the home, with details about gas and electrical safety, flood risk information and council tax banding among others. Its purpose is to enable potential buyers to make an informed decision about whether they want to view the home.
Transitional measures which allowed personal local authority searches to omit certain information on the proviso that such omissions were covered by insurance also comes to an end. This means that a local search included within a HIP must answer all questions to be compliant.
The HIP therefore will contain additional information to assist the buyer and will include necessary required documents of Index, PIQ, evidence of title (including copy Lease if leasehold), local and drainage search, Sale Statement and Energy Performance Certificate (EPC) (Predicted Energy Assessment for new build property purchased off plan).
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