Taking Fear And Uncertainty Out Of Home Buying
For many people buying a house will be the biggest financial commitment one might make in one's lifetime. As such it can be really daunting. The house may look fine from the street, but how is the potential buyer supposed to know what horrors lie hidden beneath the veneer?
Have the powers that be any plans to build a motorway at the end of the garden? Is there a sewage plant in the next street which impacts upon the neighbourhood whenever there is a prevailing wind? Is it under the airport flightpath? And what about the structural condition of the building itself?
Fortunately here in the UK one doesn't enter into a contract with one's eyes completely closed. There is a statutory obligation upon anyone selling a residential property to provide a Home Information Pack (HIP), which will be made available to the prospective buyer before any marketing gets underway.
The HIP has to contain a Home Information Pack Index, an Energy Performance Certificate (EPC), a Property Information Questionnaire (PIQ), a Sale Statement, an official copy of the Register and of the Title Plan, plus all the standard searches from the local authority and Drainage & Water.Â In the case of a leasehold property a copy of the Lease must also be provided.
Typically the seller will employ an agent to help with the drawing up of the necessary documentation. Agencies of this type are regulated by the Property Codes Compliance Board (PCCB), who have the responsibility of ensuring that those delivering the service are wholly compliant with the Search Code and HIP Code. The PCCB keeps a register of all the agencies committed to operating within these standards of practice.
One company that is registered with the PCCB and works within the terms of these Codes is Purple Bridge. Operating in the Bristol, North Somerset and Gloucestershire areas, Purple Bridge provides clear, precise and easy to follow information about the services it provides and the fees it charges.
These operating practices exist to protect the buyer from any unforeseen problems or difficulties when purchasing the freehold or leasehold of a residential dwelling. Their implementation makes sure that no matter how great an undertaking it is buying a new home the purchaser is still able to sleep soundly.