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HIP

Home Information Pack's

1) What is a Home Information Pack?

A Home Information Pack (HIP) is a set of documents providing important information about a property, its energy efficiency, boundary ownership and planning permissions. Now compulsory for residential properties with 3 or more bedrooms in England and Wales.

2) What is in a Home Information Pack?

The Packs include the key documents that are normally required when homes are bought and sold. Potential buyers can receive this information at the start of the home buying and selling process. Some documents will be compulsory under the new legislation.

The compulsory documents include:

An index (i.e. a list of the contents of the Pack)
An Energy Performance Certificate (EPC)
A sale statement (summarising the terms of sale)
Evidence of title
Standard searches(e.g. local authority enquiries and a drainage and water search)
Where appropriate commonhold information
Where appropriate, leasehold information

Optional documents include:

A Home Condition Report (HCR)
A legal summary
Guarantees and warranties
Other searches relevant to the particular area
A Home Use Form
A Home Contents Form and additional relevant information

3) What is an Energy Performance Certificate? Energy Performance Certificated (EPCs) tell home buyers and sellers about a home’s energy efficiency – using A to G ratings, like those used to rate fridges and washing machines. As soon as it has been received, the EPC should be made available to potential buyers.

4) What is a Home Condition Report?

The Home Condition Report contains information about the physical condition of a property. Sellers, buyers and lenders will have a legal right to rely on it as an objective and authoritative report. It is prepared by Home Inspectors who are members of a Government approved and regulated Certification Scheme.

5) How will Home Information Packs help the current buying and selling process?

HIP’s aim to reduce the stress of buying and selling a home by providing key documents at the time a property is put on the market. Currently this information is not normally available until after an offer has been negotiated, often causing sales to be renegotiated or collapse altogether.

6) How much will a pack cost?

The cost of preparing a Pack will be determined by market forces and not by Government. However, the Pack will cost in the region of £350 plus VAT (including £100 for an Energy Performance Certificate), most of the cost of the Pack already exists in the home buying and selling process.

Please contact Orange Square directly by telephone or email asap to organise your own HIP for your property.