Home Information Packs
|
It now appears that Home Information Packs are here to stay despite best advice from right across the industry. However, we can take the aggravation out of preparing the HIPs for our Clients. 
|
Christopher Wise
|
From 14th December 2007, Packs have been required for the sale of all residential properties. The cost of a basic Home Information Pack from AL&H is £300.00 Inc VAT.
Sellers' frequently asked questions
When do I have to provide a HIP?
Before residential properties can be marketed for sale, the Seller needs to have arranged a Home Information Pack (HIP). The HIP has to have been commissioned before a property is marketed, but does not have to be completed before the first day of marketing.
The Pack includes an Energy Performance Certificate (EPC), containing advice on how to cut carbon emissions and fuel bills. Also included are documents such as a sale statement, searches and evidence of the title of the property.
What goes in a HIP?
A HIP includes documents that are required when homes are bought and sold. Some documents are mandatory and others optional.
Sellers can obtain HIPs from Solicitors, Estate Agents, separate pack providers, or do it themselves. Using a pack supplied by a Solicitor provides peace of mind and allows the Seller to share or transfer the property between Estate Agents if necessary, whereas a HIP supplied by an Estate Agent is often branded and may not be acceptable to other Agents.
No - only in England and Wales
If you are marketing your property, even if it's just by putting a 'for sale' sign in the window, you need a Pack. Sales where no marketing takes place (e.g. to a member of the family) won't need a Pack.
Electrical certificates (past or present) are not a required component of the Pack, but can be included if the seller has them.
Don't worry - guarantees aren't a required component of the Pack, but can be included if you have them.
A Home Condition Report could help you sell your property more quickly if it shows that it is in good condition, or if it highlights any problems straight away for potential buyers.
If your house has not been taken off the market i.e. continuous marketing has occurred, then no, you will not need to commission a HIP. If however, there was a break in marketing you will need to supply a HIP.
How will I pay for the Pack?
This depends on the agreement between the seller and the compiler of the Pack. Some examples of the ways that Packs might be paid for are as follows:
-
Seller pays for the Pack upfront from the Solicitor, Estate Agent, or other Pack provider.
-
Seller compiles the Pack and pays each organisation for the relevant component (e.g. the Land Registry for the title document)
-
Estate Agent offers the Pack to the Seller on a 'no sale, no fee' basis, where the cost of the Pack could be included in the Agent's commission
-
Estate Agent offers the Pack to the Seller on a 'buy now, pay on completion' basis, which is usually a credit agreement for three or six months between the Seller and the organisation compiling the pack.
What is an AL&H Pack going to cost me?
The cost of our basic Home Information Pack is £300.00 Inc VAT, there are no hidden extras.
