What Are Home Information Packs (HIPs)?

Since January 2007 the government has been fazing in the Home Information Pack. But what are home information packs and what do they mean for the home seller?

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Habitus the UK's leading Independant Network of Surveyors explain from January 2007, the law will require that anyone selling their home will need to provide, on request, a Home Information Pack (HIP) to potential buyers.

The Home Information Pack will consist of a number of sections;

A Home condition report - a report on the physical condition of the property which will also include an energy efficiency assessment.

terms of sale.
evidence of title.
replies to standard searches.
planning consents, agreements and directions, and building control certificates.
seller's property information form.
warranties and guarantees.

Peter McKendrick, non Executive Chairman of Habitus and formerly President of the RICS, has played a significant role in the development of the National Occupational Standards and the Guidance that will support the future activities of Home Inspectors who will undertake Home Condition Reports within the new environment.

"Our Habitus' involvement to date has included participation in the technical drafting of standards, and will continue through to the implementation of the scheme itself."

GEARING UP FOR HIPs

The changes resulting from the recently enacted Part 5 of the Housing Act 2004, which will introduce the Home Information Pack of which the Home Condition Report is an integral part, are expected to be in place for a dry run, from mid-2006.

Though the compulsory scheme will be introduced in early 2007, sellers may well chose before then to provide a HIP on their property as a way of encouraging and speeding up a sale.

Habitus will be able to provide not just the Home Condition Reports, but the complete Home Information Pack. For more information email customerservices@habitus.co.uk

Visit the Habitus website for a wealth of information on 'Home Buying', 'Home selling' and nuch more about property ownership.

www.habitus.co.uk

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