C & R Properties

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What is a Home Information Pack?

It is now compulsory for all homeowners in England and Wales to arrange for a Home Information Pack (HIP) to be prepared before putting their home up for sale and to make it available to any prospective buyer upon request.

Home Information Packs will ensure that all of the important information will be provided upfront at the outset. This will create a faster and more efficient home buying system and the main benefit to the seller is that any buyer is unlikely to pull out of the sale if they have all the required information from the very beginning.

How a Home Information Pack will benefit the buyer and seller

Previously, most of the information a buyer required was only produced after an offer had been made and accepted. This meant any problems only came to light after the parties had incurred legal, survey and search fees, and resulted in sales falling through after the sale price had been agreed between Buyer and seller.

A Home Information Pack will ensure that all the important information is provided upfront, giving peace of mind to both you and your prospective buyer, creating a smoother, faster path to a successful sale. All estate agents will now be required to belong to an approved consumer redress scheme when marketing any property with a HIP to create a higher standard of service for customers.

C & R Properties are members of the Ombudsmen for Estate Agents O-E-A.

If my home is already on the market will I still need a HIP?

If a house was on the market prior to the introduction of Hips then the house is unlikely to require a HIP.

If the vendor decides to take the property off the market and then puts it back on again, then the property will need a HIP.

What is in a HIP

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 mandatory documents include the following:

An Energy Performance Certificate
An index of contents
A sales statement (summarising the sales details)
Land Registry details or proof of search
Local property searches
Common hold and leasehold information if appropriate

Home Information Packs will not be required on the following; Properties in Scotland and Northern Ireland and on private sales (e.g. to a family member, neighbour or friend)
Non residential property, or where homes are in mixed use with commercial property (ground floor retail with upstairs residential)
Properties sold with sitting tenants and not with vacant possession
Portfolios of residential property
‘Right to buy’ sales by Local Authorities or other social landlords
Homes held on a lease less than 21 years
Unsafe properties and properties to be demolished.

What is an Energy Performance Certificate?

The Government is committed to comply with EU Directive 2002/91/EC, which aims to promote improvements in the energy performance of buildings.

The EU Directive requires and Energy Performance Certificate for all dwellings at the time of sale.

Energy Performance Certificates will tell property buyers and sellers about a property’s energy efficiency using A-G ratings, like that used to rate a fridge or washing machine. The certificate will also make recommendations for cost effective improvements that can be made to help cut fuel bills.

The Energy Performance Certificate will be prepared by Domestic Energy Assessors or Home Inspectors who are members of a Government approved certification scheme. It has been designed to help homeowners save on energy bills and reduce the environmental impact of their properties. It is estimated that by following the recommendations in an EPC, an average of £300 a year could be saved in fuel bills.

What is a Home Condition Report (HCR)?

The optional Home Condition Report provides information about the condition the home is in and includes an Energy Performance Certificate.
The Home Condition Report rates the condition of each part of the home on a scale from 1-3 (where 1 is best) – letting the seller and buyer know if any repairs are needed and, if so, whether they are serious.
A Home Information Pack should help you to:

Reduce the time it takes to sell your house
Reduce the chances of your sale falling thorough
Avoid wasted costs
Alleviate the stresses involved with the selling process
Avoid any unnecessary reductions that buyers may request as a result of the survey
Market your property to the right buyers

Where will I get my Home Information Pack?

C & R Properties Ltd will provide a Home Information Pack for sellers of all their properties

Useful website links for further information

www.homeinformationpacks.gov.uk