From 6th April this year, new rules on selling your home come into force meaning that sellers must have a home information pack (HIP) in place – not just ordered – before it can be put on the market.

Additionally, vendors will now also be required to complete a new Property Information Questionnaire (PIQ) detailing important pre-sale information such as the home’s council tax band, parking arrangements, utilities and any structural alterations.

Previously, sellers could simply order a HIP before erecting a for-sale sign. If a property is put up for sale without the mandatory HIP and PIQ, estate agents or private sellers can face fines of at least £200.

HIP Contents
The HIP must include:
• Index
• Property Information Questionnaire (PIQ)
• Energy Performance Certificate or Predicted Energy Assessment
• Sustainability Certificate (new homes only)
• Sale Statement
• Local Authority searches (can follow in up to 28 days if not immediately available)
• Lease (as applicable – can follow in up to 28 days if not immediately available)

Mike Ockenden, Director General, AHIPP, the group that represents HIPS commented: “Our members are turning HIPs round in an average of five days. As a result, this new legislation is unlikely to delay consumers looking to sell their home. However, with vendors playing an increasingly important role in the HIP compilation process it is essential that agents provide them with the necessary information and make them aware that their PIQ must be completed before their home can be marketed.

“With agents subject to fines under the Property Misdescriptions Act should they complete the PIQ incorrectly on behalf of their vendor, I would advise that the safest and most efficient route to getting the form completed and submitted will be to pass on this responsibility to your chosen pack provider. The majority of our members are offering a PIQ completion service to assist vendors with the form – this will not only avoid any delays, but it will mitigate any responsibility from the agent.”

However, Peter Bolton King, chief executive of the National Association of Estate Agents (NAEA) believes that HIPS are a waste of time and money saying: “An expensive waste of time is counterproductive at the best of times, but in a housing slump Hips are downright damaging.”