The Home Information Pack is designed to improve the home selling and buying process by providing much of the information normally made available later in the transaction, before your property is even marketed. This increases the amount of available information, reducing the length of time between a sale being agreed and contracts being exchanged, and as a result, reducing the likelihood of your sale falling through.
It is currently a legal requirement to have at least applied for a HIP before your home is marketed. Failure to do so can result in a heavy fine, even if your agent does no more than erect a For Sale Board. At Gilyard Scarth, we will lead you through this potential minefield, apply for the HIP on your behalf and help you to avoid any pitfalls.
What is in a Home Information Pack?
The Home Information Pack must contain certain key documents including;
The Sales Statement which provides some basic information about the property including its address, the name of the seller, whether the property is freehold or leasehold and evidence of Title.
An Energy Performance Certificate which tells you how energy efficient the home is, on a scale of A to G (the most efficient homes will have lowest running costs and will be in band A). The certificate also tells you, again on a scale of A to G, about the impact the home has on the environment. Better rated homes will have less impact through lower carbon dioxide emissions. The average property will be in band D or E for both ratings and recommendations will be included about ways to improve the home's energy efficiency, both to save you money and to help the environment.
The Property Register provides a brief description of the property and whether it is freehold or leasehold. For leasehold properties, the number of years remaining on the lease will be stated. Other important things to look out for are details which set out the legal rights and duties of the leaseholder and the landlord, and details of the ground rent and service charges payable covering repairs, maintenance, etc.
A Title Plan which should show the boundaries of the property to be sold.
A Proprietorship Register which states who is currently registered as owning the property.
An Index which will normally appear at the beginning of the Home Information Pack and will summarise the contents.
Property Searches which will include details relating to local information such as planning proposals, road proposals, drains, water supply, etc.
The following items are optional:
A Home Use Form (or the Seller's Property Information Form).
A Home Contents Form (or Fixtures, Fittings & Contents Form).
A Legal Summary which is a Legal Advisor's view of the contents of the Pack and should identify any issues that a potential buyer may wish to take into consideration when purchasing the property.
A Home Condition Report which includes information about the condition the home is in. The Home Condition Report rates the condition of each part of the home on a scale of 1 to 3 (where 1 is the best) - letting both the seller and the buyer know if any repairs are needed and if so, whether they are serious.