Home information packs, commonly known as hips, are now required by home owners in England and Wales before putting their home up for sale. The Home information pack will not only speed up the process of buying and selling your home but will also help make it simpler and easier to understand.
What does a Home information pack (hip) contain?
The Home information pack contains important information for people buying or selling a property in England and Wales. Documents that must be included within the HIPS are:
Home information pack index – providing a checklist of the documents contained in the hip including any documents that should be included but are unavailable.
Energy performance certificate – detailing how energy efficient a home is using a scale of A to G, with the A category being the most efficient.
Sale statement – some basic information about the property being sold.
Evidence of title – documents proving the seller owns and has the right to sell the property.
Standard searches – including official replies from local searches, information on any planning decisions & building regulations consents/approvals.
Leashold and commonhold documents where appropriate.
Benefits of a Home information pack
Whether you are buying a property or selling one, you will benefit from a Home information pack as the right information about the property is available at the beginning of the home buying process.
For sellers
By providing a Home information pack up front, sellers should reduce the risk of sales falling through as buyers will be able to make more informed decisions about purchasing the property and less likely to find any surprises further down the process.
For buyers
Buyers will benefit from a Home information pack as from the beginning of the whole buying process they will have the important information relating to the property.
A Home information pack will also cut down on the costs often wasted by both buyers and sellers, making it a simpler and more efficient process for everyone.
Energy Performance Certificate
An energy performance certificate is a compulsory part of a Home information pack. It contains information on how energy efficient a home is and about the impact the home has on the environment, using a scale from A to G with grade A properties being the most efficient.