Since the 10th September 2007, the law requires that if you are marketing a property for sale you must now produce a Home Information Pack (HIP) for that property. From the above date, legislation initially requires houses with 3 or more bedrooms to have a HIP with smaller houses coming in gradually during the remainder of 2007.
A HIP will contain legal documents, including local searches and an Energy Performance Certificate. The average HIP will cost £350, however, instruct Stevens & Co and the cost will be covered*!
Frequently Asked Questions about HIPs
What do I have to do to get a HIP?
Nothing! Stevens & Co will obtain the HIP for you.
What does a HIP contain?
- Index (of information within the pack)
- Statement of sale
- Evidence of title (including copies of lease for leasehold properties)
- Energy Performance Certificate (EPC)
- Standard searches (inc local authority land charge searches and drainage searches)
- Details of service charges (inc ground rent etc), building insurance, management company's details & accounts - for leasehold properties only
What is an Energy Performance Certificate (EPC)?
The EPC is broadly similar to certificates found on many domestic appliances.
A certificate gives the building an asset rating based on its energy efficiency (it does not take into account how the home is used by the occupiers).
The EPC will give the building a rating from A to G - an A rating shows it's very efficient, meaning lower fuel bills, while G is inefficient, meaning higher fuel bills.
It will also show the building's environmental impact by indicating its carbon dioxide emissions.
All EPCs will be carried out by fully trained and qualified Domestic Energy Assessors.
Must I have a HIP completed before I can market my property?
At present the law dictates that a HIP must be commissioned before marketing can commence, but does not have to be completed.
Must I have a HIP completed before a sale can be agreed on my property?
Currently no. However, the EPC must be provided.
How long will a HIP take to produce?
The time it takes to produce a HIP may vary, with 1-2 weeks being the expected duration.
What properties are exempt from HIPs?
- Properties where there is no marketing (e.g. sale to member of your family)
- Non-residential properties
- Seasonal and holiday accommodation
- Mixed sales (e.g. shop with flat)
- Those with land over five hectares, either woodland, for breeding animals or agricultural use
- Sales of portfolios of properties
- Properties not being sold with completely vacant possession
- Unsafe properties and properties to be demolished
What do I do next?
For more information on HIPs, or to find out how much your property is worth call 01233 640400 or call into our friendly Ashford office..
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