Home Information Packs

Homeowners in the UK ( England and Wales ) will need to provide HIPS to prospective buyers from June 1st 2007.

Each HIP is estimated to cost in the region of £650 - £1000, depending on the House/Flat.

Home Information Packs or HIPs are sometimes described as sellers packs.

Home Information Packs (HIPs)

In an attempt to make the buying and selling of houses easier, the government has introduced a legal obligation on those wishing to sell their homes or selling-agents, to make available Home Information Packs to anyone wishing to purchase their house.

The HIP is designed to contain various important information about the house being sold, allowing a level of transparency between the seller and the purchaser.

Contents of the Home Information Pack( what it is likely to contain )

Terms of Sale
Proof of title
Copies of any planning, listed building and building regulations consents and approvals
Copies of warranties and guarantees, for new properties
Guarantees for any work carried out on the property
Local search replies
A home condition report and energy performance certificate

Leasehold properties:

A copy of the lease
Most recent service charge accounts and receipts
Building insurance policy details and payment receipts
Regulations made by the landlord or management company
Memorandum and articles of the landlord or management company

Home Condition Report:

This is a completely new report developed by the government in co-operation with organisations such as the Royal Institution of Chartered Surveyors (RICS). It will describe the general condition of the property taking into account is age, location and character. This report should also highlight any problems or defects with the property.

Energy Performance Certificate:

To comply with the EU directive 2002/91/EC, the government has committed to the aims of promoting the improvements in the energy usages and performances of dwellings.

The EU directive is required for all properties being offered for sale.

The certificate will indicate to prospective purchasers the likely energy costs associated with the property. This guide will take a similar efficiency scale as the one used for fridges and freezers to indicate their energy usage.