The Government has recently announced that from 1st June 2007 Home Information Packs will become mandatory for anyone who wants to put their property on the market. They are designed to ensure that home buying and selling becomes quicker and more efficient and to avoid problems such as “gazumping”.

The Seller will need to obtain all the necessary searches, documentation and the home condition report in advance for the Buyer to inspect. The system will differ by providing a prospective Buyer with as much information as possible at the very beginning to avoid weeks of enquiries, negotiation and expense and will hopefully prevent wasted costs which often arise from failed transactions.

It is probable the packs will include the following documents:

• The terms of the sale
• Information about the property and fixtures and fittings
• Evidence of title (ownership) either from the Land Registry or copies of the deeds to the property
• Replies to standard searches and preliminary enquiries made on behalf of buyers
• Copies of any planning, listed building and building regulations consents and approvals
• Copies of warranties and guarantees for new properties or properties which have had building work carried out on the property
• A home condition report, including an energy efficiency assessment carried out by a surveyor.

For Leaseholders, the pack would also need to contain:-

• The lease
• Details of the Landlord of Management Company
• Details of the most recent service charge accounts, ground rent and receipts
• Building insurance policy details and receipts for payment
• Regulations made by the landlord or management company
• Memorandum and articles of the landlord or management company

If you have any queries regarding Home Information Packs please contact our Property Department mailroom@macjones.com