Home Information Packs
What is a HIP?
A HIP or Home Information Pack is a set of documents providing important information about a property, such as its energy efficiency, boundary ownership and planning permissions. All information required for a HIP must be commissioned before a property can be marketed by any agent. This is due to change on 31st December 2008 when you will need to have the pack complete before you can market your property.
What does a Pack contain?
The following compulsory documents must be included in a Home Information Pack.
- Home Information Pack Index
- Energy Performance Certificate (EPC)
- Sale statement
- Standard searches
- Evidence of title
- Information for leasehold and commonhold sales, where appropriate
However, up until 31 December 2008 it is possible to market a property without all the compulsory documents in place as long as they have been commissioned.
The following documents are optional in the Home Information Pack:
- Home Condition Report
- Legal summary
- Home use/contents forms
- Guarantees and Warranties
Who will compile my Home Information Pack?
Velo Estates will be happy to advise you about commissioning your Home Information Pack.
Costs vary and are subject to property title, but typically they are about £300 - £400
We strongly advise our clients to instruct the solicitor of their choice to obtain the HIP on their behalf. Your solicitor is going to deal with your conveyancing requirements, so it makes absolute sense that they take care of commissioning the HIP too. You will then be assured that the information provided complies with the current legal requirements. Importantly the HIP will be owned by you and you will remain free to choose or switch agents as you see fit.
A Note of Caution
The Office of Fair Trading is looking into the mis-selling of HIPs and will hopefully deal with those responsible accordingly.
We at Velo Estates have no plans to follow in the footsteps of those agents who offer so called free HIPs. This practice usually entails tying clients into costly, restrictive and lengthy agreements. Firstly and most obviously, 'no such thing as a free lunch' springs to mind. Secondly, we go to endless lengths to ensure that our clients' best interests are guarded and taken care of. We refuse to tempt business via such irresponsible gimmickry. In fact, we would go further by adding that we find the whole practice of estate agents contractually 'locking clients' into agreements and then holding them to ransom is in urgent need of regulatory action.
