Home Information Packs
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The Government have introduced legislation requiring Home Sellers to prepare a Home Information Pack (HIP). There are some exceptions to this requirement.
From 1st August 2007 commencing with properties which have four or more bedrooms a HIP is required. From 10th September 2007 three bedroomed properties now need a pack and from 14th December 2007, one and two bedroomed dwellings need a HIP. Until April 2009, properties can be marketed as soon as a pack is commissioned.
From April 6th 2009 it will be necessary to have a HIP in place prior to marketing a property.
From 1st October 2008 rental properties will also need Energy Performance Certificates.
HIPs were designed to speed up sales, and according to the Government will reduce the number of abortive transactions by making basic information available at an earlier stage in the selling process.
What exactly is in a HIP?
Home Information Packs must include: Evidence of Title Terms of Sale Replies to the standard pre-sale enquiries made on behalf of potential buyers Copies of any planning, or building regulation approvals and consents Copies of warranties and guarantees for new buildings Any guarantees for work carried out on the property Standard searches An Energy Performance Certificate, prepared by a
Domestic Energy Assessor.
Leaseholders will require additionally a copy of the lease
Optional Inclusions
A Home Condition Report prepared by a Qualified Home Inspector, other guarantees and warranties, other searches.
Leasehold Properties optional inclusions are :
The most recent service charge documentation i.e. receipts and accounts Details of buildings insurance and evidence of payment i.e. receipts Copies of any landlord / management company regulations Memorandums and articles of association of the landlord or management company. |
