2 June 2009

New HIPS Rules

Under new rules introduced on 6 April 2009, you cannot put your home on the market without a completed Home Information Pack (‘HIP’) and Property Information Questionnaire (‘PIQ’).

Previously, sellers could put their property on the market as soon as they had ordered a HIP, and many people are not aware that this has now changed.

The problem is that most people have to pay for HIPs in advance, and they are reluctant to do so in this economy.

Property agents should be able to point you in the right direction when it comes to obtaining a HIP and in completing PIQ’s, so don’t be put off in obtaining these as it will only slow down the sale process.

If your property was already on the market prior to the rule change on 6 April, you may not need a HIP, but it is best to check with you solicitor or property agent to make sure.

Andy Price
Bright LLP

Andy Price can be contacted on 01752 764848 or by email to Andy.Price@Brightllp.co.uk