HIPs
HIPs
What Is A Home Information Pack ?
Home Information Packs (HIP's) are designed to speed up the process of buying a home, by ensuring the Seller has information about their property available when it is marketed.
It is now a Legal requirement under part 5 of the Housing Act 2004 to provide Home Information Packs (and an Energy Performance Certificate) for all properties placed on the market.
It is the liability of the person selling the house to ensure the Pack is available. Even if you have instructed an Estate Agent to sell your home it is your responsibility to ensure the agent, acting on your behalf, is complying with the regulations.
What Does The Home Information Pack Contain?
The Legal requirements of the Home Information Pack are:
1) An Index of the Contents
2) A Sale statement
3) A Energy Performance Certificate
4) Where appropriate a New Homes Warranty
5) Evidence of Title (registered properties)
6) Evidence of Title (Unregistered Properties)
7) Searches (i.e. Local Authority, Drainage, Water)
8) Where appropriate, commonhold information, including a copy of the commonhold community statement
9) Where appropriate, Leasehold information (including a copy of the lease, information on the service charge and insurance)
Leasehold Properties also require:
1) A copy of the lease
2) Most recent copies of service charge accounts and receipts.
3) Buildings insurance policy details and receipts
4) Regulations made by the Landlord or Management Company
5) Memorandum Articles of the Landlord or Management Company.
Where details are missing, the index should explain why. If Search, Leasehold Agreements or commonhold documents are missing, it is the sellers responsibility to provide evidence that an agreement has been made to produce these within 28 Days (except in exceptional circumstances). If it takes longer than 28 Days, marketers are expected to provide evidence that they have made every effort to obtain these documents.
Properties Not Requiring a Home Information Pack:
1) Properties where there is no marketing (i.e. selling to family)
2) Seasonal Holiday Rental Accommodation.
3) Mixed Sales (i.e. ground floor shop with Flat above)
4) Properties with 5 Hectares or more of Land (Animal breeding, Woodland, Agricultural Land)
5) Sales of Portfolio's
6) Properties being sold which are still with Tenants.
7) Properties which are to be demolished or uninhabitable.