Tougher rules on HIPs come into force
As of 6 April 2009 new rules have come into force regarding Home Information Packs (HIPs).
Every home which is to be sold must have a Home Information Pack before putting the property on the market. It used to be the case that a HIP could simply be ordered before putting up the "for sale" sign, but under the new rules the pack must be in place before the property is put on the market.
The HIPS will also now need to include a Property Information Questionnaire (PIQ) which will outline important information such as the property's:
- council tax band
- disputes and complaints
- arrangements with neighbours
If you fail to have a HIP in place when putting your property on the market you are likely to face a fine in the region of £200-£500.
HIPS have long been a point of controversy, but for the time-being it looks as if they are here to stay and everyone will need to ensure they comply with the new rules.