Home Information Packs (HIPS) are to be enlarged next April to include further details such as a property’s risk of flooding, structural damage and parking arrangements.

Sellers will also lose the current 28 day period of grace whereby they are currently permitted to market their homes for sale provided they have commissioned a HIP. Following the introduction of the new rules the HIP must be made available at the point when the property is first marketed.

In the current environment when property sales have plummeted there is a concern that the introduction of the new regulations will cause further problems

This entry was posted on Monday, December 8th, 2008 at 5:09 pm and is filed under HIPs, house sales, property market general. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.