Home Information Packs
HOME INFORMATION PACKS
In June 2007 the government is introducing reforms that will change the way we buy and sell our homes in England and Wales.
All homes put on the market will need to have a Home Information pack (HIP) prepared on behalf of the seller. It is most likely that the seller's estate agent will arrange for the HIP to be prepared.The HIP will then be provided to buyers so that they have information about the property up front and can make a informed purchase decision.
Some estate agents may offer Home Information Packs before June 2007 as part of the Government's dry run to test how they will operate in the market.
At the moment when you buy a property you have to make an offer with very little information to hand. If a building defect or legal problem shows up later it can cause buyers extra expense, ruin a sale or even destroy a chain.
The HIP aims to introduce greater certainty into the home buying and selling process by providing searches and other information at the start of the process, when a property is put on the market.
What will the HIP contain?
Documents which are expected to be included in the Home Information Pack will include:
- Index
- Sale Statement
- Home Contents Form
- Home Use Form
- Evidence of Title
- Search Report
- Energy Performance Certificate
There are additional requirements for Commonhold and Leasehold properties.
A number of other useful documents can be included within a HIP on a voluntary basis. These include a Home Condition Report.
More information on the home buying reforms can be found on the Department of Communities and Local Government website at www.homeinformationpacks.gov.uk
