Home Information Packs Update - April 2009
The marketing of virtually all residential properties is prohibited unless a Home Information Pack or "HIP" has been commissioned by the seller at their own cost.
This article explains what the Regulations require from you and gives you information about the way in which Beviss and Beckingsale can supply your HIP and guide you through the process.
Under temporary arrangements which will apply until the 6th April 2009 (but which are likely to be ended at that time), your Estate Agent can begin to market your property as long as a HIP has been commissioned or ordered rather than actually received. After that date the HIP will be needed in whole or in part before marketing begins.
What is in a Home Information Pack?
A Home Information Pack is a pack of documents (also available in electronic form) which MUST contain:-
1. An index and basic information about the property to be sold.
2. Evidence of your title to the property.
3. Replies to standard searches such as a local search and drainage search.
4. An "Energy Performance Certificate".
5. A copy of the Lease on leasehold sales.
6. A completed questionnaire (from 6th April 2009). You are strongly advised to take legal advice from your Solicitor regarding questionnaires because if they contain false or misleading information you could be sued by the Buyer for misrepresentation.
A Home Information Pack can also contain
1. A Home Condition Report - a type of survey.
2. Other Questionnaires completed by you in respect of the sale of your Property.
Why Do I Need One?
The Government require you to have a HIP at the same time that you begin marketing your property for sale. It applies even if you are selling privately provided there is some "marketing " involved. The Regulations affect virtually all residential properties.
There are one or two exceptions to the requirement as to supply a Home Information Pack if your property has been on the market before the legislation began but as of the 1 October 2008, even if a Home Information Pack is not required, an Energy Performance Certificate may still be required?
What If I Do Not Get One?
The person marketing your property (or you) could face a fine of at least £200.00p
How Do I Get a Hip?
We can obtain a HIP for you. The price of a HIP depends upon whether the property is freehold or leasehold and also on the number of bedrooms. At the moment HIPs start at around £275 including VAT. Typically we will be working closely with your estate agent to provide all information as rapidly as possible so that marketing can begin.
Because we have access to a range of HIP suppliers we can source the best "value for money" HIP at the time you need to sell. So if you want a fair price for your HIP come to us. Don't forget - if you buy a HIP, then the HIP is yours even if you change estate agents. Payment for our HIPs can be made by cheque or credit card or debit card.
Some Agents offer "free HIPs" or "free legal work" - however as you will discover, nothing in life is "free". You should seek legal advice in completing questionnaires.
What Is An Energy Performance Certificate? ("An Epc")
This is an energy rating certificate similar to that for a domestic appliance provided by a qualified person but applied to the house or flat that you are selling.
The requirement for an EPC extends as from the 1 October 2008 to all dwellings whether or not they require a Home Information Pack so, for example, sales between private individuals that have taken place without any marketing, will still need one.
In addition, the legislation provides that all residential tenancies from that point will also need an EPC to be carried out although in those cases, the EPC will be valid for ten years from the date of issue. Most commercial premises are also covered by this requirement.
How Do I Get An EPC?
We have access to inspectors who will carry out an Inspection for you. The typical cost for a house would be £65 plus VAT.
If you have any queries about HIPs or would like to order one contact any member of our Moving House team or contact me
Mark Ollier
01297 626950