Welcome
to the Home Information Pack / The Sellers Packs Page.
The
service
As
a result of changes to conveyancing
law due to take effect in 2006, some
home sellers who conceal property problems, could face
prosecution.
That
is when the Government intends to
require sellers to put together a Home
Information Pack (HIP's), for which
vendors will also have to pay about £600.
This will be a comprehensive description of what the
buyer can expect to receive.
Currently, property is bought
"as seen" and the surveyor's
responsibility - acting as an
agent for the purchaser or
lender - to identify any
problems. Now the Government has
decided to put the onus on the
seller to also be completely honest.
The
new process, it is claimed, will make house
buying smoother, prevent buyers
from spending money only to have
a sale fall through, and stop
speculative sellers entering the
market.
A
spokesman for the Office of the Deputy
Prime Minister, which is
drawing up rules for the packs, said:
"We have got to be able to
enforce this. It is like the
enforcement system in the planning
system, it relies on people reporting
on their neighbours. I imagine the
enforcement may rely on whistle
blowing."
Although
the pack, which will contain surveys
and searches among other useful
information, will cost the vendor about £600, some of the costs are
already incurred generally in a move.
H D Consultants
have for some time now been monitoring
the progress of the HIP's and, in due
course, we will be supporting the
process by employing our own Home
Inspectors. Want more advice or help?
Contact our consultants by clicking on
the link here.
H D
Consultants is an Appointed Representative of Personal Touch Financial Services Ltd., which is authorised and regulated by the Financial
Services Authority. See the FSA site
here .
Your home
may be repossessed if you do not keep up repayments on your mortgage.
Full written details on request. All loans subject to status. Terms and Conditions
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