Home Sellers Info Pack - 15th Apr 2007 10:18am
Home Seller's Packs - June 1st 2007
Home Sellers Packs are coming to the fore again as the Government prepares to make Home Information Packs compulsory on June 1st 2007.
However following pressure from the opposition Conservative party and a petition signed by 130 MPs in early July 2006, part of the proposed content of the Home Information Pack, the Home Condition Report was scrapped.
The Home Condition Report was effectively replacing the need for a survey and would have been paid for by the seller rather than the buyer.
The official reason given was that mortgage lenders were not going to recognise Home Condition Reports as a substitute for a survey, which meant they were effectively useless.
Great news for the professional surveyors and Estate Agencies. Bad news for innocent home buyers
Worries that it might interfere with the property market was also seen as a concern from ministers with the housing minister, Yvette Cooper, stating that she didn’t want a ‘big bang’ effect on the housing market.
The Home Condition Report was the heart of the Home Information Pack and without it, it seems a waste of time and money from both the buyers and sellers point of view.
The Home Information Pack will now include:
And of course Subject to Change
Home Sellers Packs are coming to the fore again as the Government prepares to make Home Information Packs compulsory on June 1st 2007.
However following pressure from the opposition Conservative party and a petition signed by 130 MPs in early July 2006, part of the proposed content of the Home Information Pack, the Home Condition Report was scrapped.
The Home Condition Report was effectively replacing the need for a survey and would have been paid for by the seller rather than the buyer.
The official reason given was that mortgage lenders were not going to recognise Home Condition Reports as a substitute for a survey, which meant they were effectively useless.
Great news for the professional surveyors and Estate Agencies. Bad news for innocent home buyers
Worries that it might interfere with the property market was also seen as a concern from ministers with the housing minister, Yvette Cooper, stating that she didn’t want a ‘big bang’ effect on the housing market.
The Home Condition Report was the heart of the Home Information Pack and without it, it seems a waste of time and money from both the buyers and sellers point of view.
The Home Information Pack will now include:
A sale statement with the address of the property, who is selling it, and information on whether or not it is being sold with vacant possession.
Copies of title documents or deeds proving owners Home Information Pack.
Replies to standard searches such as planning permissions, road schemes, water and drainage.
Warranties and guarantees for any building work.
An Energy Performance Certificate (EPC), required under an EU directive, which gives A-G ratings on the home and practical measures to cut fuel bills and carbon emissions.
Property Use Forms (with details of neighbour or boundary disputes and work carried out) and Contents Forms (fixtures and fittings) are still grey areas. It may be that these can be left blank.
And of course Subject to Change
