Wednesday, March 18, 2009
Government confirms changes to Home Information Pack legislation
The Communities and Local Government (CLG) have confirmed that the proposed legislation which is due to come into play from 6th April 2009 will go ahead. The most controversial of which is the removal of first day marketing exemption. In total there are three key changes to HIPs you need to know about: 1. The temporary first day marketing exemption will be removed, which means that a HIP must be available on the first day a property is marketed 2. A Property Information Questionnaire, completed by the seller, must be included in the HIP, and 3. The end of the use of insurance to cover missing data in personal searches. These changes have important implications for industry practice in the marketing of residential properties for sale and the advice given to clients.