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HIPS - a Seller's guide
The Home Information Pack (HIP) is compulsory for most homes on the market in England and Wales. From April 2009, important changes were made to HIPs. This means better information will be available from the first day a property is put on the market. If you haven't already got one, legally you should order a HIP (Home Information Pack) before marketing your property or face a £250 fine
Why you need a HIP
It is a legal requirement to have a HIP and you can't market your property without one, it is the responsibility of the seller to produce a HIP, if you advertise with This home 4 u. The HIP lets buyers see important information on the property at the start of the process, free of charge.
This means there's less chance of buyers becoming aware of any surprises at the end of the process. The HIP can help reduce delays and extra expense to the buyer and seller. You don’t need a HIP for:
- properties where there is no marketing, for example if you are selling to a member of your family
- non-residential properties
- properties limited by law to use as holiday accommodation or occupation for less than 11 months per year
- mixed sales, for example a shop with flat
- sales of portfolios of properties, for example selling two properties together
- properties not being sold with completely vacant possession, for example with a sitting tenant
- unsafe properties and properties due to be demolished
- properties sold through the ‘Right to Buy’, ‘Right to Acquire’ and ‘Social HomeBuy’ home ownership scheme
Home Information Pack (HIP) is required for every home that is marketed.
What is in a HIP
The HIP is made up of required (compulsory) and authorised (optional) items. There shouldn't be any marketing or advertising material in the pack, so make sure it contains official information only.
From 6 April 2009, the HIP must be available and contain the following documents on the first day a property is put on the market:
- Home Information Pack Index
- Property Information Questionnaire (PIQ)
- Energy Performance Certificate (EPC) or Predicted Energy Assessment (PEA)
- sustainability information (required for newly built homes)
- sale statement
- evidence of title
If the following documents are unavailable when marketing begins, they should be added to the HIP as soon as they are available. These documents must be included within 28 days of the date the property was first placed on the market:
- standard searches (local authority and drainage and water)
- a copy of the lease for leasehold properties
- commonhold documents, where appropriate
For more detailed information on the compulsory and optional documents and how to get them, follow the links below.
Finding a HIP provider
If you are commissioning a HIP, you should shop around as prices vary, and check the terms and conditions of your contract. You should always make sure that your HIP provider is signed up to a code of practice, like the HIP Code.
What is a HIP?
The government have introduced HIPs in an attempt to improve the process of buying and selling property in England and Wales and to improve the environment through energy awareness. A Home Information Pack includes essential information about a property which was previously not made available to the buyer until later in the process. It also includes an Energy Performance Certificate, rating each property, and highlighting ways to save energy. By making this information available upfront, the intention is to speed up the process of buying and selling property. A Home Condition Report (similar to a survey) can be included as an optional extra, as can guarantees and warranties.
Still unsure then click on the following website:-
Official Home Information Pack website:
http://www.homeinformationpacks.gov.uk/
