Home Information Packs – What You Need To Know
Home Information Packs (HIPs) were initially introduced by the Government in December 2007 to reduce delay in property transaction process. Few changes were announced in December 2008. This included the introduction of a new Property Information Questionnaire that will provide a summary of information about the property in one place, helping buyers make decisions about whether to view a property, and ultimately whether to make an offer.
Government is making some important alterations to the Home Information Pack (HIP) from 6 April 2009. This will affect the stage at which it can be purchased. It is now permitted by law that a HIP be in place before the property is marketed, this means that payment must have changed hands before advertising can begin. Make sure that you have the following in place:
- Property Information Questionnaire (PIC)
- Energy Performance Certificate (EPC) or Predicted Energy Assessment
- Sustainability Certificate (new homes only)
- Sale Statement
- Land Registry Documents
You can also get the required information and advice for home buyers information pack. To obtain an HIP, you must also fulfil the other required details. Property Information Questionnaire (PIQ) is a further mandatory requirement. This must be completed by the seller and made available for the buyer to use as a checklist whilst walking through the property. Apart from this, the aforementioned changes from 6 April 2009, you also be no longer required to use insurance to cover missing data in personal searches.
Buyers and sellers can make an informed decision with Home Information Packs. Also make sure that you do need to provide a home information pack for new build properties. You can also approach HIP pack provider specialists for help on HIP.