Newspaper article The Evening Standard (London, England)

You Can Have That in Writing

Newspaper article The Evening Standard (London, England)

You Can Have That in Writing

Article excerpt

Byline: MIRA BAR HILLEL

AT LAST, whether you like them or not, Home Information Packs are to become compulsory, the Government has decided. The packs, which will become obligatory from January 2007, are designed to speed up the selling process and, in theory, reduce the opportunities for gazumping.

The move is set to put a damper on the market as only serious sellers are likely to go to the effort and expense of preparing a pack but ministers expect a drop in the number of sales that fall through, currently one in three, and the [pounds sterling]1 million a day presently wasted in fruitless legal and survey fees. The measure will also be a small help for first-time buyers, who will be spared the cost of surveys and searches.

Sellers will have to produce a pack containing title documents, replies to standard enquiries, details of all relevant planning, listed-building and building-regulation documents affecting the property, a draft contract, local authority searches and a standard Home Condition Report. …

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