HIP London & UK - Home Information Packs HIPs

Home Information Packs for London & UK (England and Wales):

HIP Introduction

As of now (post 14th December 2007) Home Information Packs (HIPs) are required for any house or flat that is 'new' to the market. This includes both freehold and leasehold properties and From 6 April 2009 estate agents must have the following minimum documents before First Day Marketing of a property can legally take place:

Index
Energy Performance Certificate or Predicted Energy Assessment
Sale Statement
Land Registry Title documents and Plan (or SIM result where the title is unregistered)
Property Information Questionnaire (PIQ)

HIP Ownership

Please note that the HIP is meant to be owned by the property owner (the vendor) not by the estate agent.
- Therefore we are happy to market your property if you have your own HIP.
- Please be careful as some estate agents are offering ''free HIPs'' (which you pay significantly more in the end) Certain estate agents are trying to own the HIPs packs, tie vendors into high fee commissions and very long sole agency periods. Halfapercent allows you to own the pack, our fees start from 0.5% & our sole agency terms are simply 15 days notice at anytime.

HIP Provider

You do NOT need to use our HIP providers. We do however recommend two providers; Yugin Law and Hiphiphoraay. We have thoroughly researched the market, and have negotiated very competitive rates. If you select any of our recommended HIP Options we can conduct the Energy Performance Certificate (E.P.C.) and Digital Imaging in one visit.

HIP Cost

Halfapercent offer 2 options; Firstly purchase from £220+VAT (freehold and leasehold) through our recommended conveyancers- Yugin Law .This is however compulsory that you instruct Yugin law to do your Conveyancing. Second option is to purchase a HIP through Yugin Law for £300+VAT with no conveyancing tie-ins. A HIP for a leasehold property has more information than a freehold property and from 1st January 2009 it is the law that all service charge and management information forms part of the H.I.P. and could add another £200 to a Leasehold H.I.P.

HIP Marketing

At this stage you can immediately market your property provided a HIP has been instructed. We would need to see proof of instruction, if you have ordered a HIP from another supplier and have not received it yet.
The 'energy and environmental' graphs will be shown on our website and also the websites that we market your property on (e.g. Rightmove, Globrix, Primelocation, Findaproperty etc). They will be positioned alongside the Floorplans, 360 Virtual tours & Professional Photographs.

HIP Replacement

The Home Information Pack is valid for as long as the property is continuously marketed with no breaks. The HIP regulations do not automatically require documents to be updated where the property is taken off the market and then put back on the market within one calendar year of when it was first marketed. If it is taken off the market and then put back on the market after this date, certain time-sensitive parts of the pack might need to be updated. However, there is no duty to update these documents at any time if the reason the property is put back on the market is because the sale has fallen through and the property is re-marketed within 28 days

The elements of the HIP are valid for:
EPC - 3 years
Title Documents (OCEs) - 3 months
Lease - Must be the most recent version
Local Authority Search - 3 months
Drainage & Water Search - 3 months

We would not recommend refreshing any document until a sale reaches the conveyancing stage.

HIP Content Freehold Properties

The Home information pack primarily contains:
Sale statement, Title documents, Title plan, Local Authority Search, Drainage & Water Search and the Energy Performance Certificate (EPC).

HIP Content Leasehold Properties

The Home information pack contains all the above (for a freehold property) plus:
A copy of the lease, Name and address of Landlord & Managing Agents, Service Charge statements over last 36 months, Financial requests made by Landlord over last 12 months, Regulations or rules made under the lease, Proposed amendments to the lease and Summary of proposed building works.

HIP Property Visit

All of the Home Information Pack (HIP) can be produced without visiting the property except for The Energy Performance Certificate (EPC). For all properties that we market we send a professional Photographer around to do Digital Imaging (photographs, floorplans & 360 virtual tours). For your HIP you will also require a visit from a Domestic Energy Assessor (DEA). Please note that if you instruct one of our 3 HIP Options the likelihood is the E.P.C. will be done by one of our DEA whom will also do the Digital Imaging in the same visit. The Domestic Energy Assessor (DEA) will measure your property, asses the structure, appliances etc., based on this they will produce The Energy Performance Certificate (EPC).

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