Essentials of Home Information Pack (HIP)

                                                                                         

Home Information Pack is a series of information about a property which is available to your prospective buyer, when you have decided to sell your property. Infact, your property is placed on the open market. There are certain pre-requisite documents required to make up a Home Information Pack. A Standard finance facility is usually a DCS (Debtor creditor Supply) arrangement; this means that the Hips provider is paid directly by the finance provider, unlike a personal loan which would be paid to the client.

The Home Information Pack will include documents relating to the terms of the sale, evidence of the title, replies to standard enquiries made on behalf of buyers which is usually undertaken by the lawyers, copies of planning, listed building and building regulations consent and approvals. It also includes your home condition reports, home contents forms, legal summary and other basic documents.

Evidence of title
Home Information Pack Index
Standard searches
Energy Performance Certificate
Sale statement
Additional information for leasehold and common hold sales, where appropriate.

Does every landlord require it? If you are marketing your property, even if it's just by putting a 'for sale' sign in the window, you need a HIP. Instead, sales where there’s no ACTIVE marketing, in the case of a family member or a friend, will not require a HIP. The Energy Performance Certificate or EPC is a mandatory requirement in a HIP pack.

If your property is leasehold further documentation is Required; a copy of the Lease, Service Charge Statements, demands for Ground Rent, Service Charges and Insurance contributions, Management Company Rules, the names and addresses of Landlords and Management Companies and any Notices served in respect of works to the property.

The Home Information Pack contains both compulsory and non compulsory documents. Your home information pack must include an Energy Performance Certificate which reflects how energy efficient your property is. Finding a local inspector to complete your Energy Performance Certificate should not be a problem. Get your energy performance certificate carried out by a home inspector.

Such an information pack, offers greater certainty into the home buying and selling process by offering an energy performance certificate. It’s essential to know how energy efficient the property is, before buying it, all this information should be provided at the start of the process when a property is put for sale. Reach out online for effective guidelines and assistance on HIP from the experts.

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