Thinking of selling?

Below are the key things you need to know about the mandatory introduction of Home Information Packs (HIP’s). This information is accurate following the Government’s announcement as of 26^th January 2007.

What is a Home Information Pack?

In simple terms it comprises the legal documentation relating to the property for sale (copy of title, fixtures and grottings form, sellers property information form and, in the case of leasehold property, a copy of the lease, ground rent and service charge details etc).

It also includes copies of searches (currently carried out by the purchaser)

It also includes an Energy Performance Certificate (EPC). This is a new report that will necessitate an inspection of the property by a qualified Energy Assessor and it provides a an energy efficiency rating for the property.

When does this become Mandatory?

Any property brought to the market after June 1^st 2007 will need a HIP before it can be marketed.

Transitional Period

There is a six month transitional period (until December 31^st 2007) in which the provision of searches and leasehold information within the HIP is not mandatory although it must be demonstrated that they have been applied for.

Properties marketed before 1^st June 2007

Properties marketed before June 1^st 2007 do not require a HIP. However, should they still be in the market for sale at 31^st March 2008, a HIP will be required.

What if a property is temporarily withdrawn from the market and then remarketed?

If a property is marketed with a HIP and then withdrawn temporarily, providing it is remarketed within 12 months of the original HIP date, a new HIP is not required.

I am thinking of selling, what should I do now?

Contact Integra Property Services and let us discuss with you the specific details of your proposed sale and agree the best way forward.