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Home Information Packs (HIPs)
As of 1 August, if you are selling a home with four or more bedrooms, you need a Home Information Pack to show to potential buyers. The Pack includes an Energy Performance Certificate, containing advice on how to cut carbon emissions and fuel bills. Also included are documents such as a sale statement, searches and evidence of title. On 17 August, Communities and Local Government (CLG) announced that homes with 3 or more bedrooms marketed for sale from 10 September will require a HIP. They are expected soon to announce when Packs will be required for all remaining homes.
What is a Home Information Pack (HIP)?
There are a number of key components in the HIP. We can help you sell your home by ensuring that you get a quality pack containing these components, which are:
- An index (i.e. a list of the contents of the Pack).
- An Energy Performance Certificate (EPC)
- A sale statement (summarising terms of sale)
- Evidence of title
- Standard searches (i.e. local authority enquiries and a drainage and water search)
- Where appropriate:
- commonhold information (including a copy of the commonhold community statement).
- leasehold information (including a copy of the lease, information on service charges and insurance)
- a New Homes Warranty
- a report on a home that is not physically complete
We normally recommend the inclusion of full Home Condition Reports within HIPs as they enhance the Packs, making a quick sale more likely and reducing the risk of 'gazundering' - whereby a purchaser negotiates a lower price after obtaining a survey report.