Home Information Packs HIPs and Energy Performance Certificates.

Home information Pack (HIP Sellers Pack)

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 Home Information Pack legislation makes obtaining a HIP compulsory.

Key Fact

By organising the compilation of your 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.

 

An 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. Among the four-bedroom homes assessed since Hips were launched, the average rating is reportedly an E.

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.

Key Fact -Validity

A home Information Pack remains valid (in theory), until the property sells. If the property comes off the market and goes back on again within 12 months the HIP will still be valid.

Home Information Packs HIP's Sellers Packs

Selling a home can be stressful and prone to delays and failure. 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 make home selling much simpler, whether the property is sold privately or via an estate agency.

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

How much does a HIP Cost

The government says the average price of a HIP is between £300 and £350, but the price depends on the property and could be considerably higher. The seller pays the bill, although the costs of printing and postage for individual packs can be charged to the buyer - some Hips could be up to 200 pages long.

If the property is owned on a leasehold or commonhold basis, copies of the lease and other relevant documents should be included in the Home Information Pack