Are you ready for the Property Information Questionnaire (PIQ)
The Property Information Questionnaire (PIQ) will be shortly rolled out after the draft version was produced and the related consultation was completed and added to the legislation.
There does not seem to have been vast modification to the document and legislation since we published the last article regarding the Property Information Questionnaire in August. However, the planned implementation of the PIQ was intended for the the 1st January 2009 however this has been delayed to 6th April 2009 to allow the industry to prepare for the addition to the Home Information Pack Legislation.
The ‘new’ HIP requirement has not been widely reported and awareness does seem to range from ‘quite aware’ to ‘what are you talking about?’
Some people will be aware of the Home Use Form which due to problems with some of the information requested was made a voluntary document within the HIP. Comparisions can be made between the two documents; however, the PIQ will be a mandatory requirement within the Home Information Pack when the implementation date is reached.
Is the PIQ going to dramatically change Home Information Packs?
No, probably not. However, It will provide additional relevant information of interest to the prospective home buyer which many critics have complained the home information pack has not done so far.
When you take a look over the questions which are required to be answered you will quickly see that they are relatively straight forward and easily answered on the whole. It is not anticipated that any specialist knowledge will be required to complete the Property Information Questionnaire (PIQ).
For buyers – the PIQ will give some great information on practical issues/points related to the property in question, which will help make an informed decision on the prospective purchase.
For sellers – it will give the opportunity to provide upfront information about the property which may either further attract interest or assist in preventing sales falling through at the last minute.
For estate agents – it may give rise to a very small amount of extra ‘work’ as they could be asked by their HIP provider to distribute a hard copy of the form if an electronic solution for completion is not appropriate.
For conveyancers – there is no need to fear the PIQ, it is not intended to replace the work they or other property proffsionals carry out.
As the critiques of Home Information Packs resistance relaxes the Property Information Questionnaire (PIQ) further embeds its value. We look forward to the continued development of the HIP and the added benefits the PIQ could bring.
The General Property Information Questionnaire (PIQ) download.
The New Homes version – Property Information Questionnaire (PIQ) download.
You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.