Why are Home Information Packs being introduced?
There are two main reasons why the Government is introducing Home Information Packs (HIPs):
- To reduce carbon emissions from homes
- To reduce the high rate of transaction failure in the home buying/selling process by speeding up the critical part of the process between offer acceptance and exchange of contracts
What is included in the HIP?
The list of documents that make up a HIP are detailed within the HIP Regulations and are divided into two areas:
Mandatory documents:
information that you MUST include
Authorised documents:
information that you MAY include
What are the Mandatory documents?
Mandatory documents include:
- An index detailing the components of the pack
- A sale statement
- Title documentation
- Leasehold documentation where appropriate
- A search report that relates to the property
- A search report regarding drainage and water enquiries
- Energy Performance Certificate, or Predicted Energy Assessment (if the property is not physically complete)
