Private property speculators, estate agents and developers all now need to understand the rules that now require all new-build properties to be covered by a Home Information Pack (HIP) or face a substantial fine, a local solicitor has warned.
“Until early April, HIPs weren’t needed for new properties,” says Andrew Murfin, Head of Bakewells Property First in Derby. “That has changed, now a HIP is needed before any form of marketing can take place on an existing or planned development. Otherwise, the parties involved may face a fine of £200 per plot, per day!”
According to Andrew, it is most important to understand the scope of the word ‘marketing’ under the new legislation. “Of course, we all understand that it will cover elements such as press or radio advertising, PR and pictures in an estate agent’s window,” He continues.
“More surprising is that it also includes just talking about the properties to any potential investors, including previous customers, as well as electronic and written communication or announcing a planned development on the Internet.”
Property developers or professionals seeking legal advice on any aspect of property and HIPs are welcome to contact Andrew Murfin on 01332 348791.
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Bakewells Solicitors 64 Friar Gate, Derby DE1 1DJ Telephone : 01332 348791