Since December 2007, for any residential property that you wish to sell, you need to provide a Home Information Pack (HIP) before marketing the property for sale. A HIP is a pack of information relating to the property and the person responsible for marketing a property (in most cases, the estate agent) must have commissioned a HIP by the time the property is on the market.
The Frettens HIP is competitively priced at £299 (inclusive of VAT and disbursements) and offers the reassurance of using a well established local firm of solicitors whose team has many years of property transaction experience.
Click here to Order a HIP
Why introduce a HIP?
HIPs are intended to improve the house-buying experience for the consumer by enabling a buyer to make an informed decision as to whether to purchase a particular property. Information traditionally provided during the conveyancing process is now provided up front. HIPs are intended to reduce wasted costs, delay and uncertainty in the house buying system.
What’s in a HIP?
Required documents
- Home Information Pack Index
- Energy Performance Certificate (EPC)
- Sale Statement
- Title Documentation
- Local Authority Search
- Water and Drainage Search
- Lease (Leasehold properties only)
- Index map search – Unregistered land
Authorised documents
- Home Condition Report (HCR)
- Home Use Form
- Home Contents Form
- Additional Searches – there are a whole range of these which could be included:
- Environmental
- Mining
- Flood Risk
- Chancel Repair Liability
- Legal Summary
- Warranties, Guarantees and Insurance policies relating to work or improvements carried out on the property
- Copies of Building Regulations and Planning Applications
Who will prepare the HIP?
Surprisingly, anyone can provide a HIP. This means that there will be a number of unregulated pack providers entering into the property market. It is important however, to bear in mind, that it is the quality of the HIP that is important and not just the cost involved. HIPs will only deliver these benefits for the consumer if the information is complete, accurate and easy to understand. It is more than likely that some HIP providers will do the minimum required in order to comply with the legislation to enable a property to be marketed. Such packs are likely to be incomplete, inaccurate and in the end, a waste of your time and your money. There will be no shortage of those offering HIPs but not all packs will be of the same quality and the seller will want to look carefully at what is on offer.
Sellers who are however, able to offer complete and accurate packs will see the benefit from faster sale times and sales that do not fall through. Solicitors are the only persons capable of making this new system work. We have the legal knowledge and experience to know what information a potential buyer will require.
Why you should choose Frettens LLP
1. Knowledge: Our Conveyancing Department know exactly what questions your new buyer’s solicitors will want to have answered. We can prepare the replies to any additional enquiries in advance. We have the experience of sifting through irrelevant documentation and presenting information in a clear and unambiguous way. Inaccurate or incomplete information is likely to raise more questions than it answers for a buyer rather than enhance the prospect of a sale.
2. Personal service & assistance: Sellers will need help in dealing with the legal requirements of the pack and will seek guidance and advice in completing the forms. We are best placed to provide you with that advice, unlike an estate agent or third party supplier with no legal knowledge.
3. Conveyancing: Unlike other pack providers we can also undertake the conveyancing process avoiding duplication of effort and delay. By involving two separate parties, one to do the pack and then a solicitor to do the conveyancing, the benefits of having a HIP is lost with an inevitable increase of costs and time. Not only do we offer online quotes and case tracking, with the introduction of HIPs you will be able to manage information relating to your property online, updating and adding information when you want.
4. Insured: Some have overlooked the fact that legal liability will attach to those who supply HIPs and the information that is contained in the pack. As a firm of solicitors regulated by the Law Society of England & Wales we have appropriate legal indemnity cover.
5. Certificated Subscriber to the HIP Code: This means our procedures and systems have been checked and we adhere to best practice and codes of conduct as set out by Property Codes Compliance Ltd.
So, when you decide to sell your property make sure that you first contact us for your one - stop property service. Please contact our Conveyancing Department on 01202 499255 or e.mail:- hips@frettens.co.uk for further information.
