Home Information Packs are now required by all people that want to sell their home with in England and Wales. The Home Information Packs have been developed to make it easier for buyers to make a more informed decision when purchasing a property. As well as providing ease of purchase for the buyer it also prevents the seller having any surprises by the buyer backing out late in the deal when they find a fault previously un-mentioned. Below the article explores the various documents required to be in your HIP and the benefits for both buyer and seller;
Hip Sale Statement
The Sale Statement includes general information about the property that will be required by the buyer the kind of information it would contain includes;
- The address of the property they are selling.
- If the property is registered or un-registered.
- Whether the property is leasehold, freehold or commonhold.
- If the property is being sold with vacant possession.
Energy Performance Certificate
With energy efficiency becoming more of an issue with many people through out the UK and even the world the Home Information Pack would be required to include an Energy Performance Certificate. This would show information on how energy efficient the home was on a scale of A-G with the higher the grade meaning the property is more energy efficient. It would also have to have a similar rating for the environmental impact the house would have, with once again the higher the grade the better.
Other Requirements for your Home Information Pack
- Evidence of Title - This would include the documentation to prove the person selling the property does in fact have the legal rights to do so. It is possible to obtain these documents from the Land Registry.
- Standard Searches - This would include information from the local authorities showing plans for construction or road works in the area that could be in the interest of a potential buyer.
If the property being sold is commonhold or leasehold then there would be additional information required in the HIP such as any regulations regarding the property that aren't specified in the lease.