26/04/2007

What has changed?

Properties on the market before 1st June do not need to have a HIP until 1 January 2008 provided they remain continuously on the market and the property remains unsold i.e. contracts not exchanged. This date has been changed from 31 March 2008.

Also exempt are properties that are sold subject to a sitting tenant, i.e. vacant possession will not be offered on completion. However, should the tenant move out during the selling process then a HIP will be required.

The HIP content still includes legal contents, such as searches, and an Energy Performance Certificate. However recognising that certain elements can take some time to be prepared, only the Sale Statement (a declaration of who is selling, the property address, whether it is registered and the tenure), Evidence of Ownership (i.e. Land Registry Documents) and the Energy Performance Certificate must be in place before a property can be marketed, provided that the other items (such as searches and information on leasehold property) have been ordered and all reasonable endeavours are being made to put them in place.

For evidence of ownership, the registered title does not need to show the interest of the Relocation Company or the Employer.

The HIP remains valid for so long as the property remains on the market. If a property is taken off the market for more than one year, and then put back on the market, the HIP content will have to be refreshed. Any period that the property is sold subject to contract would not be counted towards time “off the market”.

Information provided by Connells Relocation Services. For further details and a copy of their Home Information Packs Update, contact Neville Towell on 01635 271271 or neville.towel@connells.co.uk.

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