Marketing Your Property
A home must be marketed with a Pack at the time the property is put up for sale. Providing reasonable attempts have been taken, in certain circumstances the property can be marketed with an incomplete Pack– this is defined in regulations. As part of the Dry-run, however, we will be testing various options; including allowing marketing to begin if sellers have already commissioned their Pack, rather than having to wait up to 14 days.
How long will the complete Pack be valid for
The Home Information Pack is valid whilst the home is continuously marketed for sale, and the Regulations allow for a period where the property might be taken off the market whilst, for example it is under offer or to allow a seller to change agents.
The main time-sensitive items in the Home Information Pack are the local searches. These are generally acknowledged to be valid for six months.
The majority of sales complete within six months under the current process and we expect the Home Information Pack to shorten the time between offer acceptance and exchange of contracts.
Are Home Information Packs needed at auctions
Yes. People buying at auction need reliable information just as much as anyone else.
Is there an impact for Right to Buy (RTB) properties Who would have responsibility for it
RTB properties are excluded from Home Information Pack legislation as the property is not being openly marketed. However, the Department for Communities and Local Government is examining the scope for adopting Home Information Pack principles for such sales and thereby providing reassurance to people exercising their Right to Buy.
Are there shared ownership implications
A shared ownership property marketed for sale would require a Home Information Pack.