Since 14 December 2007, all homes being marketed for sale in England and Wales require a Home Information Pack.
The Home Information Pack contains important information that buyers and sellers need to know. It should include all relevant information that enables the house buying process to be safer, easier and faster. HIPS bring together evidence of title, an energy performance certificate, local searches and a sale statement.
Home buyers have the right to see a pack, and home sellers are obligated to provide one.
The cost of a HIP is likely to be £400 - £700 and this should include;
There may be additional information for leasehold properties, where appropriate
When buying a property, you should always ask to see the Home Information Pack of the property that they are interested in.
Buyers should be aware of what is contained in a HIP, and check whether the pack they are provided with is complete. If documents are missing, buyers should seek an explanation and wait for documents to be provided before proceeding.
Buyers should also check whether a Home Condition Report has been included.
Buyers should give a copy of the Home Information Pack to their solicitor.
Home Information Pack legislation requires the seller to have commissioned a pack before the property is put on the market.
For further information about HIP’s please visit: www.homeinformationpacks.gov.uk