Home Information Packs (HIP's)
Important Announcement Regarding HIPs
On May 21 2010 the new Government has suspended all HIPs on properties for sale. This DOES NOT affect the necessity to have an EPC for your property.
The main changes are that the EPC will now be valid for 10 years on resale properties as well as the rental properties. The EPC will need to be booked in when the property is marketed and will be required for the property particulars within 28 days of the property being marketed.
For further FAQs about these changes, please click the following ling link:
Latest HIP & EPC News
Home Information Packs (HIP’s) have been introduced to the UK property market because the Government is concerned about the number of failed home purchasing transactions and the average time it takes to complete a sale.
The HIP will also include an Energy performance Certificate to assess the level of emissions coming from our homes which will be complied and lodged on a central register.
By providing the information contained within the HIP at the beginning of the house selling process, buyers will be able to make better judgments, leading to less failed transactions and potentially quicker completion times.
What is a HIP?
- A set of documents which gives a potential buyer key information about the property being sold.
- A HIP is provided by the seller of the property
- A HIP must be ordered before the home is marketed for sale. There are exceptions which apply to a small number of properties, such as tenanted re-sales.
The following documents are compulsory for inclusion in a Home Information Pack:
- Index—a list of contents
- Sales Statement—Contains the address of the property being sold, the name of the seller and some other vital information. Someone, other than the seller can complete the sale statement but, as others may rely on the contents of this form it is important that the seller checks the information when they receive their pack.
- Evidence of Title—proves the seller owns the property· Standard Searches—Local Authority Search and Drainage & water enquires.
- Energy Performance Certificate—requires an inspection by a Domestic Energy Assessor or Home Inspector.
- Additional Information—for Leasehold and common hold sales, where appropriate.
- PIQ - Property Information Questionnaire.
Optional Additions:
- Home Condition Report—produced by a professionally qualified Home Inspector.
- Legal Summary.
- Contents Forms—this details what the seller will leave or take with them on completion.
- Other Searches—mining and other searches such as flooding and radon where relevant to the area in which the property is being sold.