Home Information Packs
Home Information Packs – read about the new legal requirements for sellers of homes |
| 10 September 2007, DirectSpace Ltd. |
| Having surprisingly pulled the introduction of the controversial Home Information Packs (HIPs) earlier this year, the Government has now decided on a phased approach. Home Information Packs came into force in England and Wales for newly marketed properties with 4 or more bedrooms on 1 August 2007, and extended to 3 bedrooms or more on 10 September 2007. It is expected that HIPs would be mandatory for all residential property by the end of the year. The typical cost to a seller of a HIP will be around £500 (plus VAT), although some estate agents are offering them for "free". |
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