home information packs (hips)

Home Information Packs (HIPS)

explained

Home Buyer Information Packs are a new initiative introduced by the 2004 Housing Act. By law any 3 bedroom property (or larger) mst have a HIP in place before it is allowed to be put up for general sale. The required documents are:

- An Energy Performance Certificate
- Local Authority Searches
- Title Documents
- Any relevant guarantees
- Any details of recent. current or planned work to the building
- A copy of the lease (if relevant)
- Landlord/agent details (if relevant)
- Details of service charges and ground rent (if relevant)

Home Buyer Information Packs (often referred to as seller packs) are the result of a few different ideas. Initially they were designed as a way to try and help prevent sales of houses fall through before the exchange of contracts. Now their purpose appears to be more directed towards making the sales process run more smoothly. Many, especially solicitors oppose the packs arguing that all of the documents (perhaps with the exception of the Energy Performance Certificate) were historically provided/sourced by coneyancers anyway.

The packs are put together by approved estate agents, solicitors, specialist pack providers and can even be put together by yourself assuming they contain all of the required documentation. Purchasing one from an independent provider costs somewhere in the region of £300-£400. Once purchased packs are valid for 1 year. If this period expires then a replacement must be sought if the property is still to be sold.