First Day Marketing

John Guest says

“We welcome the decision by the Housing Minister to extend the provisions allowing properties to be placed for sale immediately a HIP has been commissioned (this is called “First Day Marketing”). Anything that makes the HIPS arrangements less obstructive to selling a property is to be encouraged.”

Churchers support the petition to the Housing Minister to continue this initiative so that Clients are not delayed in selling their home by the requirement to have a complete HIP available before being able to market their property.

We provide HIPs for clients enabling them to market their property immediately instructions are received. This is the best route for Clients as HIPs are legal documents and as solicitors, we are best equipped to provide them as a seamless part of a property sale.

A HIP prepared by Churchers will include a Full Official Local Authority Search to ensure that problems do not arise with buyers or their lenders at a later date. Many HIP providers only include Personal Searches without explaining the problems that can arise. We do not recommend this to our Clients, whether selling or buying.

We are keen to help sales proceed quickly and effectively at all times. Please contact us for further details on our HIPs and property sales.

Home Information Packs

Since last December, every property being sold must have a Home Information Pack. A HIP provides buyers with information about the property they are intending to buy right from the start.

The HIP includes legal documents and searches, as well as an Energy Performance Certificate giving a “fridge type” efficiency rating for the property and makes suggestions for improvements.

We always include the best kind of detailed Official Search in our HIPs. Some HIP providers use other kinds of searches provided by personal search companies. These can cause problems with buyers or their lenders who will not always accept personal search results. Churchers firmly believe that our HIPs are best for clients – the last thing you want when selling a property is for difficulties to get in the way of a successful sale.

HIPs are part of the legal process and as legal people, we strongly advise anyone thinking of selling a property to CONTACT US FIRST so that we can give full advice on HIPs and property sales generally.

Home Information Packs and Energy Performance Certificates

1st August sees the launch of the long awaited Home Information Packs, or HIPs as they are known, and Energy Performance Certificates (EPCs) for houses with 4 or more bedrooms. This is a staggered start to the new scheme but all houses of that size put on the market from that date are subject to the rules and must have a HIP and EPC.
John Guest a partner says:

“Many of our local conveyancing clients will be affected by HIPs and we can provide advice on what is required. Until the end of 2007, homeowners may market their properties as soon as they have commissioned a pack, rather than having to wait until one is received. HIPs had a shaky start when the Government was taken to court by the Royal Institution of Chartered Surveyors over the plans which delayed the 1st June launch and led to a negotiated compromise with RICS and the initial 4 bedroom house implementation.

The principle is to ensure buyers know how energy efficient a house is before they buy it and also so that some legal work is deal with in advance.

The following compulsory documents must be included in a Home Information Pack.

• Home Information Pack Index
• Energy Performance Certificate
• Sale statement
• Standard searches
• Evidence of title
• Additional information for leasehold and commonhold sales, where appropriate.

However, up until 31 December 2007 it is possible to market a property without all of the compulsory documents. If you want any advice on HIPs do contact John on 01329 822333. We carry out a wide range of property work and can advise you on all relevant areas.

Deposits from Tenants

Do you let out property as a buy-to-let or are you a tenant? If so, the new rules in force on 6th April may affect you. From that date all deposits taken by landlords for assured shorthold tenancies have to be protected by a new tenancy deposit protection scheme. There are two alternatives - the ‘custodial’ or ‘insured’ scheme.

Christina Smith says – “Under the custodial scheme the tenant pays the deposit to the landlord who then has 14 days to send it to the scheme and give the tenant certain information. At the end of the tenancy the scheme returns the deposit. If there is a dispute over damage, amounts etc. then the scheme will hold the amount until the dispute resolution service or Courts decide what is fair. Under the alternative insurances schemes the tenant pays the deposit to the landlord who retains this amount. However, the landlord must pay a premium to the insurer. Again certain information required by law must be given to the tenant. If there is a dispute then the landlord at that point only hands the deposit to the scheme to deal with and resolve the dispute. If for any reason the landlord fails to comply, the insurance arrangements will ensure the return of the deposit to the tenant if they are entitled to it.

If you need any advice on this or any other property matter call Christina On 029 9221 0170.

HOME INFORMATION PACKS – CONTACT CHURCHERS FIRST

The Home Information Pack Regulations are now in place and the contents of what is required has become clearer.

Presently, they become compulsory on the 1st June 2007. Although the Government have removed the requirement for the seller to provide a Home Condition Report it was one of the most contentious parts of the Home Information Packs and it is still necessary to have a pack available on the first marketing of a property. We strongly recommend that you contact Churchers as soon as you are considering selling your property – perhaps even before contacting an estate agent.

It is anticipated that many people may place their properties on the market before the 1st June 2007 as the Home Information Packs will still impose more expense on sellers than is currently the position. There are still major criticisms of the Home Information Packs and pressure is mounting on the Government to make further changes.

Regardless of their final form, Churchers will provide Home Information Packs for clients who wish to sell their properties as well as providing comprehensive advice to prospective purchasers. Should you require information on what is required in a Home Information Packs please contact a member of our conveyancing department.