what are HIPs?
Every single home put onto the market needs a Home Information Pack HIP. The Pack includes an Energy Performance Certificate containing advice on how to cut carbon emissions and fuel bills. As well as documents including a sale statement, searches and evidence of title Some frequently asked questions about HIPs: Why do we need HIPs?
- To improve the buying and selling process by giving buyers more information from the outset, so they can make informed decisions early on and will, therefore, help reduce the number of aborted transactions that take place
- Your sale is much less likely to fall through as the buyer will have a lot of information about your property before even putting in an offer
- You can proceed with the sale, confident that there is less likely to be any last minute legal problems, delaying completion
Top What’s in a HIP?Registered freehold properties
These documents are compulsory before the Estate Agent is allowed to market your property - Index
- Energy Performance Certificate
- Sales statements
- Official copy of the registrars and title plan
- Home use form
- Home contents form
Further compulsory documents required 28 days after the first point of marketing - Where part of the property is let or will become let on completion of the sale copies of any leases or licences to which the property is subject
- Local land charges search
- Local authority search
- Drainage and water search
Leasehold properties
Compulsory before the Estate Agent is allowed to market - Index
- Energy Performance Certificate
- Sale statement
- Official copy of the registrars and title plan
- Home use form
- Home contents form
Further compulsory documents required 28 days after the first point of marketing - A copy of the lease or leases, any deeds of variation and other leases or licences that are relevant or affect the title
- Where part of the property is let on completion of the sale, copies of any leases or licences to which the property is subject
- Any rules and regulations in force at the time made by the managing agent or landlord
- Statement or summaries of service charges relating to the previous three years
- The most recent request for payment of service charges, ground rent and insurance relating to the proceeding 12 months.
- The name and address of the current or proposed landlord, of the managing agents or other person who may be likely to manage the property
- Any alterations to the proposed lease or regulations
- A summary of any works being proposed or undertaken that affect the property
- Local land charges search
- Drainage and water search
Top Can I market the property without a HIP?Pretty much every home must have a HIP in place – not just ordered - before it can be put on the market. You will also be required to complete a new Property Information Questionnaire (PIQ) detailing important pre-sale information such as the home’s council tax band, parking arrangements, utilities and any structural alterations – vital when deciding to make an offer. Top What is an Energy Performance Certificate (EPC)? The government aim of the EPC is to promote increased awareness of energy consumption and how people can reduce their carbon footprint. The new EPC will asses homes with an energy performance rate of A to G. To rate a persons home, a detailed survey must be carried out by a 'Domestic Energy Assessor'. Top How do I get a HIP?You can ask your Estate Agent to organise the HIP for you. Urban Spaces have a number of suppliers that we already use; you will not incur any additional fees for requesting Urban Spaces to organise. Who arranges the HIP?If you instruct an Estate Agent who has a place of business in England or Wales to put your property on the market, the Estate Agent is responsible to arrange the HIP unless you undertake marketing the property yourself. Top How much is the HIP?The cost to sellers of Home Information Packs will be set by the market. This can depend upon the size of the property, whether it is leasehold or freehold or whether you choose to include any of the optional documents.The costs will range from approximately £250 - £400. Top Download more Information on HIPs for sellers |
