The requirement for a vendor of residential property to have a Home Information Pack (HIP) prior to marketing has been suspended from 21 May 2010.
Instead, the only requirement is to have an Energy Performance Certificate (EPC) undertaken not more than 28 days after the property is put on the market.
This is to the advantage of sellers. Not only does it represent a saving of hundreds of pounds in costs, it means a property can be immediately placed on the market without any delay.
With the suspension of HIPs, the standard conveyancing searches (local authority and water/drainage searches) that were a part of the HIP will now have to be paid for and undertaken by the purchaser.
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