Since 14 December 2007 every home put on the market, no matter what size, must have a Home Information Pack (HIP). It brings together valuable information at the start of the process - such as a sale statement, local searches and evidence of title - which could save you money, time and stress later on. The Pack also includes an Energy Performance Certificate that tells you the energy efficiency of the property and contains advice on how to cut CO2 emissions and fuel bills.
HIPs provide key information needed by buyers and sellers at the very start of the home-buying process, making transactions more efficient and less likely to fall through between offer and exchange. HIP documents give consumers a clear, up front picture of what they are buying and selling.
From 6 April 2009 Home Information Packs will have to be made available as soon as a property goes on the market. The Packs will also a include a Property Information Questionnaire (PIQ) which will include flood risk information, gas and electricty safety, service charges, structural damage and parking arrangements.
A basic Home Information Pack will contain the following ‘Required’ documents that must be included:
1. Index – This tells you what is in the pack.
2. EPC – The Energy Performance Certificate.
3. Sale Statement – This tells you how the property is to be sold i.e. freehold, vacant.
4. Official Copy of the Register of Title.
5. Official Copy of the Plan.
6. Personal Local Seaches etc.
7. Water and Drainage Reports.
8. Leasehold and commonhold documentation (where appropriate).