Home Information Packs: HIPS

Home Information Packs (also called Seller's Packs) are changing the way residential property is bought and sold in the UK. This section explains how Sellers can effectively source their HIP, as required by law for all properties from 14th December 2007, and remain free to sell their home how they wish. By organising the compilation of their HIP independently of a selling agreement, Home Sellers can remain free to choose a local Estate Agency or an Online Agent to market their home, or to Sell Privately. Home Sellers who pre-purchase a pack from a quality, recognised Pack Provider will also be able to change their selling Agent more easily than if they secure their HIP as part of an Agency selling package.

To get competitive HIP Quotes for your property, recommended by Home.co.uk and available for direct purchase, simply navigate to our HIP Quotes page

See also: An Introduction to Home Information Packs

HIPs In Summary

HIPs for Buyers

Buying a home can be a trying time. Before the introduction of Home Information Packs, buyers had to make a formal offer before seeing essential information about a property. The UK Government's new Home Information Pack legislation makes obtaining a HIP compulsory for anyone marketing a home with 3 or more bedrooms from 14th December 2007.

HIPs for Home Sellers

Selling a home can be stressful and prone to delays and failure under the current system. Historically, one in four property transactions broke down due to information coming to light after a formal offer had been made. Home Information Packs help reduce this costly inefficiency and make home selling much simpler, whether the property is sold privately or via an estate agency.

Both sellers and buyers will benefit from the changes to the system.

HIP Providers For Sellers

Most sellers will need to commission a Home Information Pack when placing a property for sale, on the open market - see HIPs Exemptions below. Home Information Packs may be purchased either directly, or indirectly through your Estate Agent, if they offer this service.

Home.co.uk recommends that Sellers purchase a Home Information Pack prior to signing up with an Estate Agent or other home selling arrangement. By purchasing your Home Seller's Pack first, you will have more flexibility when deciding how to sell your property and perhaps get a better deal from a local estate agent.

Buying A HIP

Home.co.uk understands that sellers need a reliable and cost effective HIP solution to market their home. In order to provide a quality HIP solution for a reasonable price directly to home sellers, we have chosen to supply our own Home.co.uk branded Local HIP to home sellers. Local HIPs from Home.co.uk are fully compliant with the latest legislation and are produced in association with the Home Information Pack Company who are members of the Association of Home Information Pack Providers.

Local HIPs from Home.co.uk are produced by our nationwide network of local solicitors and energy performance inspectors and are available direct to the consumer. Local HIPs are fully compliant and contain all the essential information required by law.

To get a One HIP Quote, a Local HIP Quote and/or a Standard HIP Quote for your property, simply navigate to our HIP Quotes page.

Note: Sellers may also wish to obtain a Property Report to help them market their property.

Home Information Pack Content

The main difference in the home selling process, from 14th December 2007 onwards, is that the seller must take responsibility for obtaining the searches and investigating the title to the property. Sellers must also produce an Energy Performance Certificate for the property. The certificates will provide 'A to G' ratings for the home's energy efficiency and carbon emissions, as per EU regulations. EPCs will tell homebuyers the current average costs for heating, hot water and lighting for the property as well as how to cut costs with energy efficiency measures.

The Home Information Pack Contents

The Home Information Pack must contain copies of the following:

	An index of documents in the pack
	A sale statement
	Evidence of title
	Replies to searches made with the local authority
	Replies to searches made with the local water authority
	An Energy Performance Certificate - unfinished properties will require a predicted EPC

Note: A Home Condition report is not a mandatory requirement from 14th December 2007.

If you live in a Leasehold Flat you will also need to provide:

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

HIP Exemptions

It is not necessary to produce a Home information Pack for the sale of the following:

	Properties in Scotland and Northern Ireland
	Private arrangements where the property is not offered on the open market (e.g. sold to a family member, neighbour, or friend)
	Properties sold with sitting tenants and not available for owner occupation
	Portfolios of residential property
	'Right to Buy' sales by Local Authorities or other social landlords
	Non-residential properties
	Mixed commercial and residential properties
	Properties with leases of 21 years or less left to run.
	Properties for seasonal and holiday accommodation
	Properties for demolition or redevelopment

Get a Local HIP Quote from Home.co.uk.

See www.communities.gov.uk:
Next stage for Home Information Packs and Energy Performance Certificates announced

See also: An Introduction to Home Information Packs, Selling