A Home Information Pack provides information to a buyer about a property which they may wish to purchase. The pack must be provided by the home seller or the seller's agent. The pack is intended to improve the home buying and selling process in England & Wales, which is currently very slow and subject to a 30% failure rate.
Under the current system, key information is withheld from both buyers and sellers until a sale is agreed. This often results in costly issues arising later than necessary in the sale process. The Government intends that by using a HIP, information will be provided up front enabling buyers to make an informed decision early on and avoid delays, uncertainties and unnecessary expense. The aim is that this new system will be simple and more efficient.
HIPs are not required when selling the following properties:
- non-residential property;
- mixed commercial and residential property;
- sales of tenanted properties;
- a portfolio of residential properties sold as a single lot
- residentail properties which are unsafe or due for demolition
The pack must contain:
- Index
- Energy Performance Certificate (EPC)*
- Sale statement
- Title documents
- Title plan
- Local Authority Search
- Drainage & Water Search
Additionally, leasehold properties will need to provide**:
- A copy of the lease**
- Name and address of Landlord & Managing Agents
- Service Charge statements over last 36 months
- Financial requests made by Landlord over last 12 months
- Regulations or rules made under the lease
- Proposed amendments to the lease
- Summary of proposed building works
* HIPs for properties not physically complete at the first day of marketing will require a Predicted Energy Assessment. Until April 2008 new build properties constructed under Part L of the Building Regulations 2006 do not require a HIP
** Until 1 June 2008 only the copy lease from this list must be included in the HIP.
