The Office of Fair Trading says estate agents could face a ban if they do not comply with Hips
The Office of Fair Trading has warned estate agents they could face a ban if they fail to comply with Home Information Pack regulations.
From tomorrow, all homes for sale in England and Wales with four or more bedrooms will need a Hip containing ownership, planning and environmental details.
If an estate agency or anyone else negotiating property sales do not comply with the new regulations, they could be banned from practicing by the OFT, which regulates Hips.
Mike Haley, OFT Head of Consumer Protection said: “It is important that agents are aware of their obligations and the possible consequences if they fail to comply. If an agent fails to comply, this could trigger an investigation into an agent's fitness to continue estate agency work.”
The OFT can also issue a Warning Order to estate agents for breaches of the regulations that are not serious enough to warrant a ban, but may be if repeated.