At Foley & Davis, we are very much aware of the impact a change like this new legislation may have. We have spent a great deal of time carrying out extensive research to ensure we are able to offer all of our clients and potential clients a number of solutions to suit their requirements. We would welcome the opportunity to discuss any concerns or indeed answer any questions you may have regarding HIP's. For your information, over the next few paragraphs you will find a guide to the Home Information Packs.
We also offer a "Home Navigator" service, a revolutionary home buying system based on Microsoft's Virtual Earth platform; this allows potential buyers sophisticated 2D and 3D viewing options, including a 'bird’s eye' view of the property you are interested in, its surroundings and local points of interest together with valuable information about the local area. Try it by clicking on the link below.
HIPs explained
What are HIPs?
Home Information Packs have been introduced with the aim of making the buying & selling process faster and more transparent.
Information about a property is gathered in advance and compiled into a pack so that the seller, estate agent and potential buyers can all be reassured there are no problems in key areas and can make informed decisions.
The pack is produced in printed or electronic formats so it can be easily read, downloaded or sent by post or e-mail.
From 1st August 2007, it has been a legal requirement for properties with 4 bedrooms or more to provide a HIP before marketing can commence. The legislation has further developed to include all properties.
What is in a HIP?
It is mandatory that a HIP contains the following:
* An index (a list of the contents of the pack)
* A sale statement (summarising the terms of the sale)
* An Energy Performance Certificate (this rates the energy efficiency of the property)
* Evidence of title (proof you own the property)
* Standard searches (local authority, drainage & water)
* Where required – Commonhold information, including a copy of the commonhold
community statement (for example, where owners of flats own a share of the Freehold
and are collectively responsible for the upkeep of communal areas)
* Where required – Leasehold information, including a copy of the lease and
information on service charges and insurance.
* Where required – New Homes Warranty (NHBC Certificate)
* Where required – A report on the new home if it is not yet constructed.
As the legislation stands currently, we will be able to market your property once a pack has been commissioned. The individual parts of a HIP do not need to be present.
In addition, a HIP is also authorised/allowed to include:
* A Home Condition Report (similar to a basic survey)
* Guarantees and warranties (e.g. damp & timber treatment)
* Home Contents Form (a list of what is included with the property)
* Home Use Form (similar to the current sellers property information form)
* Copies of planning consents, building regulations etc.
* Other searches.
It should be noted that no other documents can be included in a HIP other than those either required or authorised as listed above. Property particulars, photos, sales information etc must be supplied outside of the pack.
Who has to have a HIP?
The legal responsibility for having a HIP lies with the person marketing the property. Normally this will be the estate agent, i.e. Foley & Davis; however in reality there will be a shared responsibility between the seller and us, the estate agent to ensure a HIP is in place for potential buyers to see when they want to view the property.
How do I go about getting a HIP?
It really is quite simple. We can advise you about the best way to proceed and will be able to order your HIP instantly online on your behalf as part of the agreement to start marketing your property. We use a proven system with our partners at LMS and Simply HIP, so you can be confident that your HIP will be put together quickly and accurately using the very latest technologies and processes.
For further information, or to discuss HIP’s or any other property related matter, contact Foley & Davis and we will be happy to assist you.