HIPs - Home Information Packs
Home Information Packs (HIPs) are needed for almost all homes put on the market on or after 14 December 2007. The requirements should be extended to cover new build properties from April 2008. Homes that were placed on the market before it was necessary to have a Home Information Pack will need to have the benefit of such a pack if they remain on the market in December 2008. Even after December 2008 there will be a few exceptions (eg a flat and shop being sold together) and some transactions will fall outside the requirements altogether (eg a council house sale).
A Home Information Pack is compiled from many different elements including an energy performance certificate and legal searches. The cost of legal searches may vary depending upon the location of the property and the cost of an energy performance certificate will often depend upon the size of the property.
We can prepare a Home Information Pack for you if you wish. Packs prepared by us have the advantage of being available for you to use with any estate agent. If your pack is prepared by an estate agent you may find yourself tied to that estate agent.
Cost of a HIP
For freehold properties our charges are quite simple:
£375 (inclusive of VAT) for properties with up to three bedrooms
£400 (inclusive of VAT) for properties with four or more bedrooms
If you would like us to prepare a Home Information Pack for you please call our office on 01329 282817.
For leasehold properties there are additional costs involved in obtaining information from managing agents and freeholders which make it impossible for us to indicate in advance the full cost. You should expect it to cost more than for a freehold property.
Financing your HIP
If you are unable to finance your Home Information Pack at the outset and would prefer to delay the expense so that it can be met out of the sale proceeds then we offer a facility to enable you to postpone payment for up to ten months. This will add 10% to the eventual cost that you pay and is also dependent upon you instructing this practice to act for you on the conveyancing when the sale eventually occurs.