Anyone planning on selling property in the near future is reminded of changes to Home Information Pack legislation from April 6 onwards.
A new document called the Property Information Questionnaire (PIQ) will now by law have to be included in HIPs from that date.
When you are selling a property with vacant possession the HIP rules apply. If you are selling a tenanted property you will be exempt, but beware that if your property falls vacant and you cannot move in new tenants, you would have to take it off the market to commission a HIP.
Sellers need to be aware of a couple of points. First, it must be filled in by you and not by the agent. Second, the form is uncomplicated for most straightforward registered freehold properties, but it could cause problems for some leaseholds, simply because it asks questions to which you may not know the answers. In this case, you are advised to ask a solicitor for help.
The reason why an estate agent cannot help you fill it in is that if there are any incorrect answers given, then the agent would not want to take responsibility for legal reasons (the Property Misdescriptions Act). However, as a seller you would not be caught by the same legislation.
Other changes to HIPs from April 6 mean that a property cannot be marketed for sale unless the bulk of a HIP is already in place. At the moment, HIPs only have to be ordered, not in situ, for marketing to begin.
From April 6, a property which requires a HIP must have one which contains: an index; a PIQ completed by the seller; an EPC; a sale statement; and title evidence. Whether you are using an estate agent or selling privately, it will be illegal to start marketing a property without these.
Local authority and drainage/water searches continue to be outside this requirement but should normally be included in the HIP within 28 days of the first point of marketing.
Source - www.rla.org.uk
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Posted by: immo te koop | March 18, 2009 at 08:34