Government Bites on HIPs

The OFT has today advised all estate agents in England and Wales that a failure to comply with the new Home Information Packs (HIPs) regulations could result in a ban from estate agency work.  From 1 August 2007, all homes for sale with four or more bedrooms in England and Wales will need a HIP with details of the property title, energy performance, planning permissions and searches for prospective buyers. Under the Estate Agents Act and HIPs regulations, the OFT has the power to assess whether an estate agent is fit to practise.