What criteria are applied to assess whether a property is physically complete?
A. Regulation 2(3)(b) confirms that a building will be considered physically complete if it: – (i) is wind and weather proof (ii) is safe and sanitary for occupants and visitors (iii) has heating and hot & cold water and gas and electricity services; and (iv) has washing and drainage services Q. Having taken a property in part-exchange, after 1st August, I am now selling on using the original agent. Marketing has never stopped and has been on going since before 1st August. Can I rely on the fact that marketing has been continuous, before 1st August 2007, to avoid the need for a HIP. A. No. the Regulations in this regard specifically refer to the need for the HIP to be provided “by or on behalf of the seller” so a HIP will be required. A new ‘first day of marketing’ occurs and a new HIP is needed.
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