Information on Loughborough
News Index
2012
Feb 2012Jan 2012
2011
Dec 2011Nov 2011
Oct 2011
Sep 2011
Aug 2011
Jul 2011
Jun 2011
May 2011
Apr 2011
Mar 2011
Feb 2011
Jan 2011
2010
Dec 2010Nov 2010
Oct 2010
Sep 2010
Aug 2010
Jul 2010
Jun 2010
May 2010
Apr 2010
Mar 2010
Feb 2010
Jan 2010
2009
Dec 2009Nov 2009
Oct 2009
Sep 2009
Aug 2009
Jul 2009
Jun 2009
May 2009
Apr 2009
Mar 2009
Feb 2009
Jan 2009
2008
Dec 2008Nov 2008
Oct 2008
Sep 2008
Aug 2008
Jul 2008
Jun 2008
May 2008
Apr 2008
Mar 2008
Feb 2008
Jan 2008
2007
Dec 2007Nov 2007
Oct 2007
Sep 2007
Aug 2007
Jul 2007
Jun 2007
May 2007
House buyers ignore HIPs at their peril
Posted on 22/05/2009
Community Services
Research has shown that 77% of buyers pay no attention to Home Information Packs (HIP’s) when deciding whether to buy a property. But using a “HIP” can speed up the process and lessen the risk of problems occuring later on.
Leicestershire Trading Standards is reminding buyers to ask for the pack as soon as they are interested in a property, and take time to read through it.
From 6 April 2009, changes were made to Home Information Packs so that more and better information is available from the first day a property is put up for sale. These changes are:
- Introduction of the Property Information Questionnaire (PIQ). The information in a PIQ will help purchasers make more informed decisions when considering making an offer. They will also ensure that the sale of a house goes smoothly.
- End of the temporary first day marketing exemption. No marketing can take place until a HIP has been compiled.
- All searches, whether produced by a local authority or a search company, must be complete. HIP providers can no longer cover gaps in the data with insurance
Buyers should make sure a copy of the HIP is passed to their solicitor or conveyancer as soon as possible, so that essential documents, such as the local property searches, are included early in the process of transferring a property from one owner to another.
It's worth remembering that the majority of sellers are also buyers, so most people will benefit from getting improved information at the beginning before any decisions are made or time is wasted.
David Bull, Head of Leicestershire County Council Trading Standards said “Making best use of the Home Information Pack at an early stage can help to take some of the stress out of home buyng by making the process easier and less costly. Conveyancing will be speedier also. Home buyers should be given a HIP by the estate agent, if not this could be a breach of the law”
If a pack has not been supplied please call Consumer Direct on 08454 04 05 06. More information and links can be found at www.leics.gov.uk/tradingstandards.
Contacts
- Paul Davis 0116 305 6534
- Keith Regan 0116 305 6533
Notes for Editors
1) The HIP duties are enforced by Local Authority Trading Standards Officers. They are there to offer help and advice, but can also issue penalty notices to anyone not complying with the Regulations. The current penalty is £200.
2) A breach of the HIP Regulations is an 'undesirable practice' under the Estate Agents (Undesirable Practices) (No.2) Order 1991 and would be a trigger under the Estate Agents Act for the OFT to consider whether an estate agent is fit to practice.
3) The OFT can impose a ban on an estate agent found to have seriously breached the Act and can also issue a Warning Order where the breach is serious but not serious enough to warrant a ban. Once this has been issued, if the agent continues to breach the Act in the same manner, the OFT can immediately make a Prohibition Order banning them from practising as an estate agent in the future.
More information about HIPs is available for industry professionalsby calling Leicestershire Trading Standards’ Business Adviceline on 0116 305 8000.