Will the end of first day marketing also signal the end of "Cheap as Chips" HIPs
From the 6th April 2009, you will no longer be able to market your property for sale without a Home Information Pack in place. This overturns the previous concession whereby you were only required to place an order for your HIP before marketing your home for sale.
This change has garnered most of the comments surrounding the new changes. But another less well published feature may have a more telling contribution. Also being abolished is the ability to insure missing information not contained in the Local Authority Search component of the HIP.
The so called personal search companies have by and large chosen not to pay additional fees to Local Authorities to obtain information such as Building Regulation approvals, and covered this lack of information by insurance.
This will no longer be permitted after 6th April. The result will be that HIPs which have been decreasing in price will now be more in line with HIPs which have always included official local authority searches.
This flight to quality will, however ensure, that there should be no duplicated fees where the Buyer’s solicitors choose not to rely on the personal search contained in the HIP and commission a fresh search directly with the relevant Local Authority.
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