From April 6th, if you are selling your home there are changes you need to know about.
The current first day market exemption will come to an end, meaning that the basic HIP must be available before the seller can begin marketing their property. Local searches can still be included in the HIP up to 28 days after the first day of marketing.
The new Property Information Questionnaire will be a compulsory document for inclusion in the HIP. The PIQ is designed to be completed by a seller, providing simple, useful information about a property. This can help to inform prospective buyers' decisions about whether to view, or make an offer on a particular property.
In addition, the use of insurance in personal searches to cover missing data will end. Every property search in a HIP must now contain all the required search information.
These changes are being introduced to Home Information Packs so that better information is available at the beginning of the home buying and selling process, and before buyers incur costs. Informed choice by buyers at the start can help reduce delays later on and wasted time for sellers.
You can make this procedure easier and reduce any delay in the marketing of your property by obtaining your HIP before you approch an Estate Agent.
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