Background
From 14th December 2007 all home-owners and their selling agents will be required to have a HIP when marketing homes for sale, and to make a copy available to prospective buyers on request.
The government is committed to making the home buying process more certain and efficient, and reduce the risk of transactions collapsing after an offer has been made. It has therefore introduced legislation (Housing Act 2004) aimed at reforming the way houses are bought and sold.
Under the new scheme, a potential buyer of a property will be entitled to see certain documents (which the seller must produce) to determine whether the prospective buyer wishes to make an offer. It is hoped that by seeing these documents earlier than at present, potential problems with properties can be discovered before the buyer has committed much time and money.
What documents will need to be included in a HIP?
- Ownership documents
- Searches (for example, Local Authority Search, Drainage Search)
- Energy Performance Certificate (EPC)
- Sale Statement
- Any other information of interest to a potential buyer
And, if leasehold:
- Lease, service charge accounts, ground rent receipt, insurance.
Cost of the HIP
Our Home Information Pack will cost £299 + VAT.
How We Can Help
We take the stress out of producing a HIP.
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