Understand The Nuances of Home Information Packs!

Why you may need a HIP?

A HIP is a set of documents that provides the buyer with key information on the property. It must be provided by the seller or the seller's agent. It is a legal requirement without which you can’t market your property. The HIP allows buyers view important information about the property at the start of the process, free of charge. This kind of benefit allows buyers become aware of any surprises at the end of the process. The HIP pack can also help reduce delays and extra expense to the buyer and seller. The Home Information Pack is mandatory for most homes in the market in England and Wales.

What does a HIP contain?

The HIP is made up of required and authorised (optional) items. It shouldn't have any marketing or advertising material in the pack. It should have only official information.

Who prepares HIPs?

Sellers can instruct their Solicitors, estate agents, separate pack providers, or do it themselves.

You must attach certain documents in a Home Information Pack:

• Home Information Pack Index
• Evidence of title
• Standard searches
• Energy Performance Certificate
• Sale statement
• Additional information for leasehold and common hold sales, where appropriate.

Most of the information in the Home Information Pack is already used in the Conveyancing process but is currently obtained after a sale has been agreed. As per the new regulations, the responsibility to obtain and pay for the home information pack documents passes from the buyer to the seller and the seller must order the HIP before placing the property on the market.