The following 3 changes are being introduced with effect from today, 6^th April 2009 in relation to selling your property:

• Previously a property could be marketed provided a HIP had been instructed. This temporary first day marketing exemption for a HIP is now being removed and from today it will be unlawful to market a property unless the HIP is actually available.
• The HIP must also now contain a Property Information Questionnaire, which must be completed by the seller and included in the pack before the marketing of the property can begin. The intention is that the PIQ will provide the prospective buyer with a helpful checklist as they walk around the property.  The PIQ must be completed by the vendor. If the selling agent assists with completion the agent will be liable under the Property Misdescriptions Act 1991.
• An insurance policy designed to cover any missing data in personal searches will no longer be allowed.  From today all searches must be complete.

This entry was posted on Monday, April 6th, 2009 at 9:25 am 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.