The 1st August 2007 saw a new dawn in the Buying and Selling process for properties in England and Wales. New Government legislation became effective from this date with the requirement that all four bedroom properties have a Home Information Pack or HIP as they are commonly referred to.
All residential properties are now required to have aHome Information Pack and an Energy Performance Certificate.
So what is a HIP and why has the legislation been introduced?
Some ten years or so ago ministers began to look into ways to speed up the process of buying and selling property. They wanted to reduce the time and costs involved and try to decrease the number of aborted sales. Various blueprints were put forward and indeed a pilot scheme even ran in the Bristol area in 1999.
In its present day form the HIP is a Pack containing documents relating to the property, local search results and an Energy Performance Certificate.
The Home Information Packs are still a new animal for many Estate Agents, however we were pleased to be part of the governments trial in 2007 and since have handled many Packs on behalf of our clients so we have plenty of experience with the Home Information Packs already. If you have any questions or queries please feel free to contact us on 01225 789 256.
Can properties be marketed without a HIP ?
The answer is no, not legally! There are fines for those who fail to comply. However certainly until the 1st June 2008 you can market the property as long as you have ordered the HIP. After this date you will have to wait until the HIP has been compiled and produced before you can market your home.
How do you get a HIP ?
As your chosen Agent we can organize and administer both the Home Information Pack and the Energy Performance Certificate on your behalf using one of our chosen suppliers. Before we do this we will talk you though each supplier, the costs and the process.
Of course you can choose whoever you wish to supply you with a HIP and we will still be able to market your property.
How much does it cost?
It varys on the information needed to complete the pack but for most freehold properties prices start from £295 plus VAT. Contact us for an individual quotation or further information.
Buy Now, Pay Later
Through our relationships with our suppliers we are able to offer you a deferred payment option. Call us for more information 01225 789 256.
What’s in a HIP?
The HIP contains the following Compulsory documents:
Energy Performance Certificate - This will advise of the energy efficiency of the property and grade the property on an A-G scale, much like domestic appliances you buy for your home.
Sale Statement – This is a summary of the terms of the sale
Searches – This includes a Local Authority search, the drainage search and a water search.
Evidence of title – This explains the information held about the property at the Land Registry and ensures evidence of the title of the property.
Leasehold and commonhold documents – Mainly applicable to flats, apartments and maisonettes although some houses can be leasehold.
New Homes Warranty (if applicable) – This is only needed if a property is new home bought straight from plan.
Home Information Pack Index - A list of documents within the HIP.
The following are optional information
Home Condition Reports (HCR) – This is a survey of the property.
Work Carried Out – Evidence of any works carried out as a result of the information ascertained from the HCR.
Fixtures & Fittings Form – As it says
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