Grounds & Co - Blank

Valuers, Auctioneers & Estate Agents

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HOME INFORMATION PACKS & WHAT YOU NEED TO KNOW

HOUSING ACT 2004 - HOME INFORMATION PACK	WHAT DOCUMENTS MUST A HIP CONTAIN?
You may or may not be aware the government has introduced legislation, that from 1st August 2007, every seller of a residential four bedroom property will have to supply a Home Information Pack before their property can be legally placed on the market for sale. Obviously, estate agents and everyone professionally involved with the housing market have known for some years that the legislation was on its way. We have taken positive steps to provide our customers with a practical and competitive Home Information Pack product that is simple to use and portable, with flexible payment terms to suit your pocket.	An Index The Energy Efficiency Assessment The Sale Statement Evidence of Title - Copy of Register & Title Plan Applicable Leases New Homes Warranty Local Authority Searches Water & Drainage Search Report Other authorised documents may be included like: The Home Contents Form, The Home Use Form, A Home Condition Report, Planning Permissions or Building Regulations Documents, Warranties for any defects to the property, to list a few.
WHY HAS LEGISLATION BEEN INTRODUCED?	WHAT IS THE "SHELF LIFE" OF A HIP?
The government are looking to speed the selling process up. It is considered that the current procedures are too slow compared with international standards. Other countries take an average four weeks to secure a sale as opposed to eight weeks in England & Wales. It is felt that the implementation of this legislation will speed up the process for buying and selling in England & Wales. Another of the driving forces behind Home Information Packs is the government's commitment to the Kyoto Agreement on climate change. This will require every property to have an energy efficiency inspection and provide an Energy Performance Certificate within the Home information Pack.	There is no requirement to update the Pack once the documents are in place. There is just the requirement to ensure that all the latest documents are held. Current legislation states that a property can be withdrawn from the market for up to 1 year and still use the original pack, as long as it is the original seller. This new regulation will be reviewed at a later date.
WHAT IS A HOME INFORMATION PACK?	I WAS ON THE MARKET BEFORE 1st AUGUST?
A Home Information Pack is a collection of information that provides details about your property. Potential buyers will be able to view the Pack and use this information when negotiating an offer. The documents in a HIP (as it is known) must conform to standards and requirements set out by the act.	Any property that was on the market 'For Sale' before 1st August 2007 will not require a HIP. Legislation will allow sellers an interim period until 31st December 2007, to sell their property, as long as the 'First Point of Marketing' was before 1st August 2007. You are able to switch agents during this period as long as there is no break in marketing, meaning you must proceed with marketing through your new agent, before finishing with the old agent.
WHO CAN PREPARE THE PACK?	WHAT WILL A HOME INFORMATION PACK COST?
Anyone can put the Pack together providing they comply with the requirements of the act. Some estate agents are providing HIP's for their customers as an additional service, and some are including them within their fees. There are companies dedicated to producing HIP's for estate agents and sellers. Grounds & Co are able to supply you with all your Home Information Pack requirements.	There are a number of options available through agents & dedicated pack providers, which include deferred payments and bolting the HIP on to an all-inclusive selling fee. Grounds & Co have arranged a flexible pricing structure depending on your requirements. They include upfront payment, deferred payment and No Sale No Fee, we would be more than willing to arrange an appointment to visit you in your home to discuss this and all your HIP related issues with you further.

For further information on Home Information packs:

Chatteris Office	March Office	Wisbech Office
01354 693266	01354 652502	01945 585041
enquiries@grounds.co.uk	enquiries@grounds-march.co.uk	enquiries@grounds-wisbech.co.uk

Click here for Fenland Hips Site

or E-mail: HIPS@grounds.co.uk

GROUNDS & CO
Valuers, Auctioneers & Estate Agents
One of Englands oldest established professional firms with over 200 years of service to the property and land owning community of Cambridgeshire and East Anglia