Home Information Packs (HIPS)
From 14th December 2007 anyone marketing a residential property for sale is required to commission a HIP for that property from the time the property first goes on the market. The information contained in a HIP will assist clients in the sale process so potential buyers will have access to relevant information at an earlier stage in the transaction process. The HIP will contain the following compulsory documents:
1. Index
2. Energy Performance Certificate (EPC)
3. Sale statement
4. Searches
5. Evidence of title
6. Leasehold or common hold documents if applicable.
An EPC report is carried out by a Domestic Energy Assessor (DEA) and indicates how energy efficient a home is on a scale of A-G with the higher rating homes being in Band A. The EPC also provides on the scale to A-G what impact through carbon dioxide (CO²) emissions a property has on the environment. It also provides recommendations on ways to improve the property’s energy efficiency.
Richardson Surveyors can organise and instigate a HIP for a property with a national company or if preferred local Solicitors and this can be done with no additional charge. The approximate cost depending on the value of the property is approximately £275 to £325 plus VAT and the cost of this can be deferred for a small additional charge.
As the introduction of Home Information Packs has been over a period of time there are exceptions to those properties that require a HIP which we would be happy to discuss. Those properties which have been on the market continuously before the following dates are still exempt from requiring a HIP.
1st August 2007 for sales of homes of four bedrooms or more
10th September 2007 for sales of homes of three bedrooms or more
14th December 2007 all other properties
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