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Property Sellers In The Uk Should Prepare For Introduction Of Home Information Packs (hips)

Following the last-minute decision by the British Government on 22 May to delay the introduction of HIPs to 1 August 2007, home owners are reminded that they will be required to commission a Home Information Pack when placing their property on the market. Whilst there may still be speculation both in the media and within the industry as to whether this new date will materialise, particularly in the light of the most recent House of Lords defeat for the Government on the issue, home owners and property professionals should continue to prepare for this eventuality.

Initially, the scheme will only initially apply to 4 bedroom and larger properties. However, the Government expects to roll out the scheme, firstly to 3 bedroom and then to all properties, once sufficient numbers of Energy Assessors are trained and accredited, which could be as soon as the end of 2007.

One key aspect of the new HIPs which is new to the conveyancing process is the introduction of Energy Performance Certificates (EPCs) , following a European Directive on climate change. As with other European Directives, the Government has chosen to “gold-plate” the legislation, aiming to far exceed European requirements in this regard. Whereas the European Directive only envisages the need to obtain an EPC for an individual property once every 10 years, the Government has decided that, initially at least, the EPC will only be valid for up to 12 months. What this means to the seller is that, if you property does not sell within a year, you will need to re-applt for an EPC.

Sellers looking to place their property on the market at this time are advised to speak to their solicitor before doing so, in order to obtain independent and impartial advice regarding their Home Information Pack.

With their nationwide network of offices, Cunningtons Solicitors are ideally placed to produce your Home Information Pack from implementation of the scheme. Cunningtons have a wealth of experience in property law, in particular residential conveyancing When you use their services they will assign a fully experienced legal professional to work on your behalf.

Tags: agent, buy, buying, estate, HIP, home, house, information, market, pack, property, real, sell, selling, UK