What is a HIP?
From 14th December 2007 the vast majority of property being put up for sale in England and Wales requires a Home Information Pack (HIP) under Government Legislation. The main idea is to provide more upfront information for potential buyers, to speed up the buying process and to reduce delays due to nasty surprises during the buying / selling process.
There are some exceptions such as mixed sales (e.g. shop & flat), sale of portfolios, properties waiting to be demolished and properties with a sitting tenant.
Properties that require a HIP can be marketed once the HIP has been ordered, but proof of the order must be kept. As soon as the Energy Performance Certificate (EPC) is available the pack should be made available as soon as possible.
From 1st October 2008, all properties that did not require a HIP will still require an EPC for marketing purposes.
What's in a HIP?
By Law, the following compulsory documents must be included in a Home Information Pack:
- Index of documents
- Energy Performance Certificate (EPC)
- Sale statement
- Standard searches
- Evidence of title
- Additional information for leasehold and commonhold sales (if applicable)
Some documents in the Home Information Pack are optional. These include:
- Home Condition Report
- Legal summary
- Home use/contents forms
- Other documents
The good news is that REB Estates can arrange for a Home Information Pack to be prepared for your property which is fully compliant with the law. These start from £299 + VAT for a standard pack.
Please contact us on 01745 590919 for more details.
For more information about HIPS, see the Government Home Information Pack Website
