A Home Information Pack (including the following documents) must have been produced before a property can be marketed:
• Home Information Pack Index
• Energy Performance Certificate
• Sale Statement
• Evidence of Title (For Registered Estates)
• Official Search of the Index Map (For Unregistered Estates)
• Property Information Questionnaire (PIQ)*
Marketing with an incomplete pack may take place if documents have been formally requested and it is expected they will arrive within 28 days of the start of marketing but this exemption only applies to searches/leasehold information and evidence of title for unregistered properties.
There is no requirement for a seller to renew their HIP so long as the property they are selling is continuously marketed for sale. If the seller decides to stop marketing their property they can go back on the market with the same HIP provided they do so within 12 months of the first point of marketing. Even after one year, if a property is taken off the market where an offer has been accepted only for the sale to fall through, the seller can go back on the market with the same HIP as long as remarketing starts within 28 days of the sale falling through.
If the property is not remarketed within 28 days of the sale falling through then the HIP will need to be re-started. However the EPC within a HIP for a residential property is valid for up to 3 years and therefore can be ‘ported’ into a new HIP within this period**.
There is no requirement for any component of the HIP to be updated whilst the property is marketed for sale. It is up to the seller and buyer to negotiate any update of any part of the HIP. So far as buyers are concerned, if they have a mortgage, it is a requirement of the Council of Mortgage Lenders Handbook that all searches must not be more than 6 months old at completion. If the searches are out of date the buyer will need to update the searches unless they can convince the seller to do so.
*This new requirement will include information about flood risk, gas and electricity safety, service charges, structural damage and parking arrangements/access.
**The EPC for rental properties is valid for 10 years.
For any questions relating to Home Information Packs please either call in to our office in Thaxted, email us at sales@carl-fisher.co.uk or telephone us on 01371 832270.
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