|
The Home Information Pack (HIP) contains important information that buyers and sellers need to know.
Properties marketed for sale from 14 December 2007 in England and Wales need a Home Information Pack which needs to be provided by the seller or seller’s estate agent within 28 days of the house being brought on to the open market.
Benefits for sellers
For sellers, providing a Pack upfront should reduce the likelihood of any unknown surprises in the selling process that could delay the sale, as buyers will be able to make more informed decisions about purchasing their home. Chelsea International organises the pack for sellers and this fee is deducted from the sales fee*
Benefits for buyers
For buyers, the Pack provides essential information about properties they are considering buying, free of charge.
The following compulsory documents are included in a Home Information Pack.
- Home Information Pack Index
- Energy Performance Certificate
- Sale statement
- Standard searches
- Evidence of title
- Additional information for leasehold and common hold sales, where appropriate such as management charges
- A HIP for a newly built home must have a certificate (or interim certificate) showing the r rating that the home has received in respect of the Code for Sustainable Homes or a nil-rated certificate showing that the home has only been designed to meet current Building Regulations.
Optional documents
Such as the Home Condition Report which gives buyers a clear idea of what work, if any, needs to be done to the property.
Commonly asked questions;
Are HIPs required across the UK?
No - only in England and Wales
I'm selling my house privately - do I need a Home Information Pack?
If you are marketing your property, even if it's just by putting a 'for sale' sign in the window, you need a Pack. Sales where no marketing takes place (e.g. to a member of the family) won't need a Pack.
Do I have to put electrical certificates in my Pack?
Electrical certificates (past or present) are not a required component of the Pack, but can be included if the seller has them. Any additional information is always helpful.
I've lost guarantees of work I have had done - what do I do?
Don't worry - guarantees aren't a required component of the Pack, but can be included if you have them.
My house has been on the market before HIPs came in. If I change Estate Agents now, do I have to get a HIP?
If your house has not been taken off the market i.e. continuous marketing has occurred, then no, you will not need to commission a HIP. If, however, there was a break in marketing you will need to supply a HIP.
Any further questions, please feel free to speak with William Morris on 0207 349 9094
|