Issue 3 - Sept 2007. Home Information Packs

Sat, 01/09/2007 - 00:00 — Georgina Smith

This month we unravel the mystery of Home Information Packs.

As from the 1st August, if you are selling your home and it has four or more bedrooms, you will only be able to place it on the market when a HIP has been prepared.

What is a HIP?

The HIP contains useful information for potential buyers. The pack will contain key legal documents and an Energy Performance Certificate, which assesses the energy efficiency of your home.

Why do I need a HIP?

The pack will help to speed up the selling process by ensuring that the buyer has all the relevant information to hand. Anyone selling a house with four or more bedrooms will be legally obliged to produce a HIP, and failure to do so can lead to a heavy fine.

What will the pack include?

Evidence of title
Copies of planning, listed building or building regulations consents
A local search
Guarantees for any work on the property
An energy performance certificate

Will I have to pay for the HIP?

Yes, you will bear the cost of producing the HIP when your property is put on the market. It will cost around £300 plus VAT* to have the pack prepared, and you may have to update it if your home is on the market for some considerable time.

How do I go about getting a HIP?

We have certified HIP advisors who can help put together the pack. Our Estate Agency Manager is also a qualified energy assessor and can provide tips on how to improve the energy efficiency of your home.

I have less than 3 bedrooms in my house does this mean I don't need a HIP?

At the moment this only relates to houses with four or more bedrooms, however, this is just the first stage and eventually properties with three or less bedrooms will have to prepare a HIP in order to be placed on the market.

What do I do now?

Please contact Louise Cooper our Estate Agency Manager on 0121 746 3355 or email property@sydneymitchell.co.uk

*This figure is based on the likely cost of the property searches, Land Registry Information and Energy Performance Certificate to be provided in the HIP.