The Government has introduced Home Information Packs to improve the process of buying and selling a home.
All homes marketed for sale from 14 December 2007 in England and Wales will need a Home Information Pack (HIP).
A key component of the HIP is the Energy Performance Certificate (EPC), which will rate the home's energy efficiency, using graphs like those on fridges and washing machines.
It includes recommendations on how to cut fuel bills and reduce carbon emissions, encouraging people to make improvements to the energy efficiency of their homes.
Currently, any property that was already on the market on the relevant commencement date (ie 1 August 2007 for sales of homes with four or more bedrooms; 10 September 2007 for those with three or more bedrooms and 14 December for all properties) does not need to have a Home Information Pack.
To find out more visit: www.homeinformationpacks.gov.uk.
What's in a Home Information Pack?
The Home Information Pack contains important information that buyers and sellers need to know.
Properties marketed for sale from 14 December 2007 in England and Wales need a Home Information Pack.
Benefits for sellers
For sellers, providing a Pack upfront should reduce the likelihood of any nasty surprises in the selling process that could delay the sale, as buyers will be able to make more informed decisions about purchasing their home.
Benefits for buyers
For buyers, the Pack provides essential information about properties they are considering buying, free of charge.
What does a Pack contain?
- Compulsory documents ('Required') - for example, the evidence of title that proves it's yours to sell.
- Optional documents ('Authorised') - such as the Home Condition Report which gives buyers a clear idea of what work, if any, needs to be done to the property.
Compulsory items
The following compulsory documents must be included in a Home Information Pack.
- Home Information Pack Index
- Energy Performance Certificate
- Sale statement
- Standard searches
- Evidence of title
- Additional information for leasehold and commonhold sales, where appropriate.
However, up until 1 June 2008 it is possible to market a property without all of the compulsory documents.
Optional items
Some documents in the Home Information Pack are optional. These include:
- Home Condition Report - read about the benefits
- Legal summary
- Home use/contents forms
- Other documents
- Additional information for leasehold and commonhold sales, where appropriate.
Getting a Pack
From 14 December 2007, all homes being marketed for sale in England and Wales will require a Home Information Pack.
For Buyers
If you are buying your home, just ask whoever is advertising it for sale for the Home Information Pack. This is usually an estate agent, but could be another business or individual.
If it's an estate agent, they must give you a copy of the Pack free of charge (although they may make a reasonable charge to cover the costs of copying and posting it). If the seller isn't using an estate agent, you should be able to get the Pack directly from them.
You can see what the Pack has to contain in What's in a Home Information Pack?. For more, see buyers', essential information.
For sellers
If you are selling your home, there are a number of options:
- Use an estate agent
- Get a solicitor to do it
- Use a specialist Pack provider
- Compile it yourself. See How do I compile my own pack?
- Enlist the help of other businesses, such as financial advisers
- Some supermarkets have also indicated that they might provide Packs.
If you're selling a private residential property on the open market, you will normally need a Home Information Pack. However there are some exceptions, so to check if you're affected, see Do I need a Pack?. For more, see sellers' essential information.
Choosing a Pack Provider/Search company
On 29 September 2006, the Search Code and HIP Code were introduced, delivering quality standards across both the property search industry and in Home Information Packs (HIPs).
If you are commissioning a HIP, you may wish to consider a company that is a member of the HIP Code. Alternatively, if you are commissioning searches or are compiling the Pack yourself, you may wish to consider a company that has signed up to the Search Code.
