Are HIPS happening?
The 1st June start date for the introduction of Home Information Packs (HIPS) is fast approaching and despite advice from industry leaders, such as the Royal Institution of Chartered Surveyors (RICS) to postpone this date, the government is still determined to go ahead.
This means that as of 1st June all residential properties will require a Home Information Pack prior to going on the market. Properties already on the market won't need a Pack, unless it is unsold on 1 January 2008. Some properties such as non-residential property (including those with over 5 hectares of land) and properties where no marketing take place, are exempt from the requirements.
The aim of the HIP is to remove uncertainties for buyers and to minimize the time it takes to complete a sale. However, the RICS has called for the implementation of HIPS to be delayed because they feel the scheme is ‘ill-prepared, unnecessary and potentially damaging’ not least because of the adverse effect it predicts it will have on the market.
Despite these industry concerns Yvette Cooper, Minister for Housing and Planning, delivered a speech on 18th April 2007 stating that HIPS and their 1st June implementation date are very much happening.
For more information, contact Richard Clowes in our Market Harborough office on 01858 411209
- Ashby de la Zouch
- 01530 412821
- Banbury
- 01295 271 555
- Knutsford
- 01565 757970
- Market Harborough
- 01858 410 200
- Newark
- 01949 851815
- Southampton
- 02380 883150
- Stafford
- 01785 220 044
- Worcester
- 01905 453275
