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Home Information Packs (HIPs)

Home Information Packs (HIPs) now Extended to All Properties

Read updated information regarding HIPs.

The government has introduced Home Information Packs ( HIPs ) in England and Wales.

This means that all persons selling three-bedroom properties in England and Wales must have a Home Information Packs ( HIPs ) available prior to marketing.

The pack should include local searches and other legal documentation plus an Energy Performance Certificate ( EPC ). A Home Condition Report giving details on the condition of a property for sale can also be included in the pack on a voluntary basis.

How Does Home Information Packs (HIPs ) help the current buying and selling process?

The Government believes that Home Information Packs will reduce the stress of buying and selling a property by providing key documents from the time a property is put on the market for sale. Currently this information is not usually made available until after an offer to buy has been negotiated.

HIPs aim to increase confidence in the sale process.

Squarefoot are marketing all property for sale under this criteria with Home Information Packs. This means more peace of mind and a better standard of service for our customers.

Benefits

Reforming the home buying and selling process

Reforming the home buying and selling process to provide consumers with a better deal is long overdue. Home Information Packs, together with reforms to conveyancing, local authority searches and consumer redress, are at the heart of these changes.

The benefits Home Information Packs bring to Consumers

The Home Information Pack ensures that important information about a property is available to buyers and sellers early in the home buying and selling process, drawing attention to any problems before they delay the transaction or, possibly, cause it to fail.

In combination with other government initiatives as well as market-led innovation, HIPs act as a catalyst for reform, leading to a home buying selling process that is:
More transparent - giving consumers a clearer, up-front picture of what they are buying and/or selling;

Quicker - with reduced transaction times
More certain - with a reduction in the number of transactions that fall through between offer and exchange
More efficient - with a reduction in abortive costs to both consumers and estate agents
Smoother - the above reforms add up to a process that is less stressful and less confusing for consumers.

The benefits Home Information Packs bring to Industry

Improving the process of buying and selling by reducing the number of transaction failures and reducing the time taken between offer and acceptance
A step on the ladder for new generations of home owners - through more affordable entry costs and simpler process for first time buyers
Joined up processes through industry forging links to provide a seamless service to consumers.

What is in a Home Information Pack?

The Home Information Packs will include the key documents that are normally required when properties are bought and sold. Some documents will be mandatory and others optional. The Government has outlined which documents fall into the two categories and they are expecting to specify the following:

The mandatory documents are likely to include the following: