Home Information Packs Explained

In order to speed up the Home buying and Selling process and to a certain extent, limit speculative Property sellers artificially inflating house prices, the Government has introduced Home Information Packs  or HIP's throughout England & Wales.

When did this happen?

On the 01st of August 2007 all properties with 4 or more bedrooms that came on to the open market to be sold required a HIP.

On the 10th September 2007 all properties with 3 or more bedrooms that came on to the open market to be sold required a HIP.

On the 14th December 2007 all remaining properties  that came on to the open market to be sold required a HIP.

What does this mean?

If you wish to sell your home on the open market (not a private sale) the Government say that you must now provide potential buyers of your home with certain Information. This information must be contained in a document called a Home Information Pack or HIP and must be available to all potential buyers before marketing of your home can commence, or for a limited period, as soon as is possible subject to a few conditions.

What is in a HIP?

A HIP contains a set of Required Documents (ones that must be included) and may also contain certain Authorised Documents (ones that may be included if the seller wishes).

What are the required Documents?

A standard HIP for a Registered Freehold Property (this is most houses) will contain the following items;

An Index

(this is simply a contents page that contains basic information about the other documents.)

An Energy Performance Certificate

(this is a Certificate that shows potential buyers of your home how well your home is insulated etc and how much it may cost to run in terms of energy use.)

A Sale Statement

(this explains what type of property is being sold, how it is being sold & who is selling it.)

An Official copy of Register of Title and Plan.

(this identifies the parcel of land being sold and who owns the land and therefore has a right to sell it. If the property is not registered at Land Registry further documentation will be required.)

Searches

(these can be Official Local Authority Searches or Personal Searches (Personal Searches must be accompanied by a minimum of £2000 000 insurance. Most HIP's are priced to include Personal Searches because these are quicker, generally cheaper and carry the insurance! Searches should reveal what has happened to the property in the past and what is likely to affect the property in the future.)

Water and Drainage Enquiries

(these tell us who delivers fresh water and removes foul water from the property as well as other information.)

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Leasehold Properties (most Flats) will require further documentation

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A few Facts you should consider before buying a HIP

Who Owns the HIP?

A HIP Purchased from Essex HIPS Ltd belongs to the Home Owner and not the Estate Agent

Can I take my HIP to any Estate Agent?

A HIP Purchased from Essex HIPS Ltd can be taken to any Agent.

Does my HIP Tie me in to a contract with the Estate Agent?

A HIP Purchased from Essex HIPS Ltd does not tie you in to any contract with an Estate Agent

Can I use more than one Estate Agent to sell my Home?

A HIP Purchased from Essex HIPS Ltd will allow you to pick and choose as many Estate Agents as you like.

Am I free to choose the Solicitor or conveyance company of my choice?

A HIP Purchased from Essex HIPS Ltd means you can still use the family Solicitor or Conveyance company of your choice. We do not recommend the Factory Conveyance companies that some Estate Agents may suggest you use.

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This is what we do not do!

We do not have any hidden extras EVER.

We do not use annoying Automated call centres.

We do not recommend purchasing a HIP from anywhere that ties you in to a long term contract with an Estate Agent or conveyance Company.

We do not charge you to take your HIP from One Estate Agent to another.

We do not sell or give your personal details to anybody, this includes mortgage companies etc.

We do not get paid by anyone other than the purchaser of the HIP.

Selling your home can be a complicated process, let us help you make it that little bit easier.

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