Home Information packs
Home Information Packs
Home Information Packs?
The Home Information Pack (also known as the HIP) it is not compulsory for your home, however if you were to acquire one, it would mean better information which would be available for your potential buyer.
What is HIP? (Home Information Pack)
A HIP is a set of documents that provides the buyer with key information on the property. The HIP can help reduce delays and extra expense to the buyer and seller.
What does a HIP contain?
The HIP is made up of required items.
■ There shouldn't be any marketing or advertising material in the pack, so make sure it contains official information only.
■ Home Information Pack Index
■ Property Information Questionnaire (PIQ)
■ Energy Performance Certificate (EPC) or Predicted Energy Assessment (PEA)
■ sustainability information (required for newly built homes)
■ sale statement
■ evidence of title
■ standard searches (local authority and drainage and water)
■ a copy of the lease for leasehold properties
■ common hold documents, where appropriate
Leasehold properties
If a property is leasehold it means that the property is for sale but the land the property is built on is not. A buyer may have to pay ground rent to the freeholder and other service charges.
Optional documents
Other documents can be included within your HIP, but these are optional. If they are included, it could help to speed up the sale and ensure that the process goes more smoothly. These include:
■ Home Condition Report
■ legal summary
■ home use/contents form
■ other documents like specialist searches (for example, the seller may choose to include a mining search in a mining area)
Who compiles the HIP?
You can compile it yourself or you can hire an estate agent, solicitor or HIP provider i.e. EPC Your Property to do it for you. Always make sure that your HIP provider is signed up to a code of practice, like the HIP Code.
Who pays for the HIP?
The seller is responsible for the cost of a HIP.
What will a pack look like?
There isn't a standard 'look' for a Home Information Pack. However, it must include all of the compulsory ('required') items. Certain important documents must be no more than three months old when the property was first marketed for sale.