HIPs & EPCs Fact Sheet - continued
How long is a Pack valid for?
- The HIP is valid for as long as the property is continuously marketed for sale and is valid for up to one year, where it is withdrawn from the market and re-marketed by the same owner. In other words, if the property is taken off the market after the HIP is a year old, the HIP will expire at that point.
- A residential EPC is valid for 3 years. Lettings EPCs and commercial EPCs are valid for 10 years.
- There is no requirement for any component of the HIP to be updated whilst the property is marketed for sale. It is up to the seller and buyer to negotiate any refresh of any component of the HIP.
Changing Estate Agents
- A property that has been on the market since before its corresponding commencement date, and is therefore exempt from the HIP duties, will continue to be exempt if the seller changes Estate Agents, provided that there is no break in the marketing
- There is no reason why an agent cannot rely on a HIP provided by the seller, a different estate agent or a HIP provider other than the one they would normally use, as long as they are content that it is compliant
- Ownership of the HIP will depend on the contractual agreement that has been entered in between the parties
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