WILKS PRICE HOUNSLOW SOLICITORS
Home Information Packs
From the 1st
June 2007 it will be compulsory for a Home Information Packs ”HIPs” to be
prepared before putting a property up for sale.
A copy of the pack must be made available to any prospective buyer upon request.
HIPs will provide all of
the important information about a property up front. This is to create a faster
and more efficient home buying system.
The idea is that a buyer
will be less likely to pull out of a transaction if they have all the required
information from the very beginning.
The HIP is likely to
contain copies of the following documents:
q Terms of sale
q Evidence of title (ownership)
q Replies to standard preliminary enquiries made on
behalf of buyers
q Copies of any planning, listed building and building
regulations consents and approvals
q For new properties, copies of warranties and
guarantees
q Any guarantees for work carried out on the property
q Replies to searches made of the Local Authority
q A home condition report based on a professional
survey of the property, including an energy efficiency assessment
In the case of a Leasehold
property:
q A copy of the Lease
q Most recent service charge accounts and receipts
q Building Insurance policy details and payment
receipts
q Regulations made by the landlord or management
company
q Memorandum and Articles of Association of the
Management Company
Introducing the HIPs is a
key part of a package of measures to reform the home buying and selling
process.
Click here for Government information on Home Information Packs
Updated 23.2.06
.
We are currently improving the site and apologise for any missing links 22.2.06