The Government announced that Home Information Pack (HIP) & Energy Performance Certificates (EPC) are to be implemented from December 14th instead of June 1st. These new laws in England will require home sellers to have a HIP to be prepared before they can market the property. From December 14th Hips will be implemented, the packs consisting of EPC’s will be required for the sale of all properties regardless of the number of bedrooms .
Already trialled in parts of the country, Home Information Packs have helped in the buying and selling process.
If You’re Selling
If you are selling or thinking of selling your home then you will be required to have a Home Information Pack. Vendors will be able to market their properties as soon as they have commissioned a pack, rather than waiting till they receive it. However, there are some exemptions. If a request is made by an interested party (Potential buyer) for the Home Information Pack then a copy needs to be available. Nothing is to be charged to potential buyers but a reasonable amount for copying and postage may be applied.
Getting a Home Information Pack
When you have decided to sell your property, your first point of contact should be an Estate Agent for a valuation to see exactly how your property is worth. The Agent will advise you if, firstly you require one and secondly, how a pack can be obtained. Most agents will be affiliated with Home Information Pack providers, so will be in a position to get the ball rolling.
How Much Does it Cost?
The cost of the Home Information Pack for sellers is still to be set; however, some providers are offering Estate Agents a provisional figure of £700 to £1000. Normally the seller/s will be liable to pay for this up front but with so many companies offering the packs, finance options may be available. (Please note that the figures mentioned above are not fixed and may be subject to change)
For more up to date information on your rights as a buyer please visit:
http://www.homeinformationpacks.gov.uk
If you’re buying:
Once you have viewed the right property a Home Information Pack should be made available for you, if it falls into the relevant category. This will contain important information such as the properties energy efficiency and maybe an optional home conditions report. Always ask your appointed solicitor to have a look through it as well as reading it carefully for your own satisfaction. The Home Information Pack must contain the following;
- An index of the contents of the pack.
- A sales statement, terms of sale.
- Evidence of the title (from land registry, may be delayed slightly)
- An energy performance report.
- Searches.
- Leasehold or commonhold information where needed.
If you are satisfied and your offer is accepted a copy of the Home Information Pack should be given to your solicitor, this will save you both time and some money.
Getting a Home Information Pack
If you have viewed or are interested in buying a property a Home information pack should be made available to you by whoever is marketing the property. This will most likely be an estate agent. A copy must be given to you free of charge, however the person, company or estate agent giving it to you may charge a reasonable amount of money to cover the cost of copying and posting if required.
For more up to date information on your rights as a buyer please visit:
http://www.homeinformationpacks.gov.uk