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Home Information Packs (HIPs)
What is a Home Information Pack (HIP)?
A HIP is a bound document containing almost everything a buyer/lender’s solicitor will require in order to exchange contracts on the purchase of a property. This includes the terms of sale, evidence of title, standard local authority and water searches, planning consents, and an Energy Performance Certificate. Other information can include warranties, guarantees and other searches.
(see below - Energy Performance Certificate)
When do I need a HIP and how is it used?
From 1st August 2007, if your property has four bedrooms, the law requires you to commission a HIP before you market your property. Marketing includes advertising, placing on the Internet, circulating property particulars or generally making it known that the property is for sale. Bryce Baker can prepare particulars but may not publicise the fact that the property is for sale until certain key elements of the HIP have been ordered – principally the EPC and the documents from the Land Registry. Once the HIP has been produced it must be made available to any genuine intending purchaser who requests it, and a reasonable charge may be made for paper copies. Free copies may be available online. In certain circumstances, such as farms, tenanted, condemned, commercial and mixed-use properties, a HIP is not mandatory. The legal requirement to commission a HIP is ever changing, so it is worth checking with your estate agent what your legal responsibilities are currently.
Who Organises the HIP?
Whilst anyone can arrange a HIP using a conveyancer, most sellers will organize this through their estate agent who should have a relationship with one or more of a number of recognised HIP providers. All you will usually have to do is sign the application form (although some providers do this over the phone) and provide certain details, such as your conveyancer, local authority and mortgagor. The HIP provider will collate the pack on your behalf.
Energy Performance Certifications (EPC's)
Bryce Baker continues to strive to improve its personal, friendly and efficient service. We are able to provide you with accessible energy assessors to complete the energy assessment of your property, which is a mandatory part of the new Home Information Pack. This will provide our customers with further guidance and assistance, ensuring the sale of your property flows as smoothly as it utmost can be.
An Energy Performance Certificate (EPC) is a mandatory part of the Home Information Pack. This is required and is part of the new Housing Act legislation implemented from the 1st August 2007 by the Government. This means that every residential property in the UK, which is to be placed on the housing market, requires a complete Home Information Pack, of which part is the EPC. Also from mid/late 2008, landlords of rental properties will be required by law to provide a valid energy certificate, which should be available on request to any prospective tenant, before a contract can be drawn. Therefore Bryce Baker will be able to provide this service in addition to marketing and/or managing your rental property. .
The Energy Performance Certificate provides your property with a standardised Energy Rating from A to G, and it will provide you with a list of recommendations and improvements. These will help you to make informed decisions about cost effective measures, helping you to make your home more energy efficient, to save you money, increase your energy rating, and reduce your personal carbon footprint on our planet.