Home Information Packs

Home Information Packs (HIP) are to introduced in June 2007 and are designed to improve the process of buying and selling a home. These will be compulsary for all sellers in England and Wales and is expected to speed up the process between an offer being accepted and contracts being exchanged.
Documents required are:
A list of pack contents, or index;
Evidence of title;
Sale statement outlining terms of sale;
Energy performance certificate;
Standard searches, e.g Local authority;
Leasehold information (if applicable);
Commonhold information (if applicable);
New Homes Warranty (if applicable);
Reports on a home that is incomplete (if applicable);
A Home Condition Report.

Authorised documents include:
Warranties and Guarentees;
Other searches.

The cost of producing a Home Information Pack (up to £1,000), is being passed on to the seller, therefore the expense will simply be incorporated into the price of the property.

Land Registry Certificate

A Land Registry Certificate gives details of the property including plans and a copy of the lease if it is leasehold. Land Registry is a government department responsible for maintaining and updating the register of all homes in Wales and England. A fee is payable to register ownership of a property. Land Registry has it's head office in London with district registries throughout the country.

Title Deeds

Title deeds refer to deeds and other legal documents which prove ownership of a property and usually include all deeds transferring ownership during the last 30 years. If a property is registered with Land Registry a Land Certificate replaces the title deeds. If there is a mortgage a Land Certificate is replaced by a Charge Certificate.

Transactional Protocol

Transaction Protocol is a Law Society scheme operated by many, but not all solicitors in the conveyancing process. If the buyer's solicitor is operating this scheme, he will recieve a property information form, and a package from the seller's solicitor at the start of the conveyancing process. The package includes the draft contract; the title deeds; the property information form and fixtures, fittings and contents form outlining what is included in the sale and what will be removed.

Preliminary Enquiries

Preliminary enquries are a standard set of questions asked of the seller's solicitor by the buyer's solicitor. This list will include:
BOUNDARIES: It is vital to establish exactly what the boundaries of the property are and who is responsible for the maintenance of hedges and fences.
DISPUTES: Are there any disputes relating to the property, e.g disputes with neighbours.
RIGHTS OF WAY: check whether there is any footpath or right of way through the property and on shared access with neighbours, such as a driveway.
SERVICES: check if the utilities reach the property through a neighbour's property or if these are shared with a neighbour.
PLANNING CONSTRAINTS: check if any alterations have met local planning requirements and that building regulation consent has been recieved.
RESTRICTIVE COVENANTS: whether the deeds contain certain forbidden specifics, such as keeping pets, painting the property's exterior or even on the use of Christmas decorations!
GUARENTEES OR INSURANCE POLICIES:
INCLUSIVE LIST OF CONTENTS: It is vital to establish and clearly list exactly what is to be included as part of the sale and what is to be removed.
LEASEHOLD: If the property is leasehold, check whether the seller is up to date with ground rent and service charges.

Restrictive Covenants

A Restrictive Covenant is a legal obligation imposed in the deeds on a buyer by the seller of a property to do or not to do something. Some restrictive covenants are very simple, and "run with the land" intending to protect a neighbourhood from property owners cutting down trees or damaging property values. Others dictate exactly what the owner can or cannot do to the exterior of the property such as painting it a different colour or dictating exactly when Christmas decorations may be put up. Others relate to issues of parking e.g outside a garage. Restrictions are normally put in place by the original developer and give the development a more standard appearance, protecting property values.