What is a Home Information Pack? (HiPs)
The Home Information Pack is a set of documents providing important information about a property such as searches, copies of the deeds and information regarding its energy efficiency.
What does this mean for me as Seller?
Selling a home can be stressful and prone to delays and failure under the current system. Currently one in four property transactions break down due to information coming to light after a formal offer has been made. The Government believes Home Information Packs will reduce this costly inefficiency and make selling simpler.
What does this mean for me as a Buyer?
Buying a home can be like trying to find your way through a legal, financial and administrative maze. Currently, buyers have to make a formal offer before seeing important information about a property. The Government`s new Home Information Packs are compulsory for anyone marketing a home for sale.
How much will they cost?
A Standard HiP from Beacon Property for a Freehold property starts at £350.00 + VAT. Add £75.00 for Leasehold properties.
house type |
Standard HiP* |
| 1 bed | £350.00 |
| 2 bed | £360.00 |
| 3 bed | £370.00 |
| 4 bed | £380.00 |
| 5 bed | £390.00 |
| 6 bed + | POA |
* Standard HiP consists of:-
- Prices shown exclude VAT
- Grid prices are for a standard compliant HiP
- One non-printable electronic format
- Payment by cheque or cash
Home Information Pack Contents
The Home Information Pack Regulations 2006 set out provisions on the “required” (mandatory) and “authorised” (voluntary) content of the Pack. Required documents must be included in the pack where appropriate and authorised documents may be included at the seller’s discretion.
The required documents are:
- Index
- Sales Statement
- Land Registry Title & Plan
- Energy Performance Certificate
- Copy of the New Homes Warranty
- Local Authority Searches
- Additional Documents for Leasehold Properties
The authorised (voluntary) documents include:
- Guarantees and warranties
- A Home Condition Report
- Other or more detailed searches if required ie of adjacent land
- Home Use Form. This Document details important information about the use of the Property and is similar to standard enquires before contract.
- Home Contents Form. Details of what is included in the Sale including Fixtures.
When will HiPs be required for Home Sellers?
From 14 December 2007 all properties for sale will require a Home Information Pack.
Are there exceptions?
The following will not require a Hip:-
- Properties continuously marketed before 1 June 2007; 10 September 2007 and 14th December 2007 will not currently require a HiP.
- A tenanted property can be marketed without a HiP. A part tenanted property (ie with a granny flat) cannot be marketed without a HiP
- Non-residential property
- Mixed commercial and residential property
- Properties with leases of less than 21 years
- Private sales where the property is not marketed
- Unsafe (uninhabitable) properties and properties for demolition
Further Information
If you are planning to come to the market after 14th December 2007 DON’T PANIC! We will be providing our clients with a comprehensive Home Information Pack service.
In the meantime we realise that you may have a number of questions about HIPs that you would like answered. Simply e-mail your question to Email Us
Beacon Property – always one step ahead!
