Property Agency – Material Upfront information

[Administration]

Further to my email, please see below a link shared by Ian Vicary, Hon Sec, which may be pertinent to many of our members.

https://www.nationaltradingstandards.uk/news/full-material-information-guidance-published/

Ian’s comments are as follows:

Changes are occurring regarding material information for sales and lettings. This is the beginning of up front information before marketing. 

Specifically, Part B – includes type of property, the building materials used – some agents may struggle with this one!

Part C – includes legal matters, e.g., restrictive covenants, boundaries, etc. 

Basically, it seems as if we are going back to HIPS or possibly moving towards the rumoured Scottish method of selling property. This is a clear sign of the start of it.

 

Please reply if  you have any comments on this.

 

[Alan Appleby FISVA]

Agreed Ian.

I must admit I was disappointed when HIP’s were ditched as they provided timely and electronically accessible facts which not only helped us reduce desktop research time but also prompted owners into sorting out any ‘issues’ well in advance of completion.

The ongoing efforts of the home buying and selling group are also to be commended. Their Industry Pledge is certainly a worthy target: https://homebuyingandsellinggroup.co.uk/wp-content/uploads/2023/03/HBSG-Pledge-FINAL.pdf

Alan Appleby

[Author]

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