From 14 December 2007, it is a legal requirement that whoever is marketing a residential property is responsible for ensuring a valid pack of information about the property is available.*
This pack of information is called a Home Information Pack (HIP) and it must have been requested and paid for, or a commitment made to pay for it, BEFORE a property can be marketed.
For a HIP has been introduced to help make it easier for people to buy and sell homes in England and Wales.
A HIP is intended to reduce possible delays when a suitable buyer has been found and to make available to prospective buyers detailed information about the property from the outset. With this transparency of information, they can then make a more informed decision before making an offer to buy the property.
The information supplied within a HIP falls into two categories:
• REQUIRED DOCUMENTS
• AUTHORISED DOCUMENTS
Authorised documents are those that CAN go into a HIP
Required documents are those which MUST go into a HIP
The above is a brief outline about Home Information Packs. For further information, or to order your HIP ready for marketing, contact one of our HIP advisers now.
* Applies to qualifying properties. Certain properties do not require a HIP.