1. What is a Home Information
Pack? The Home Information Pack (known as a ‘HIP’)
is a set of documents providing important information about a
property, such as its energy efficiency, boundary ownership
and planning permissions.
They became compulsory on 1st August 2007
for properties with 4 or more bedrooms in England and Wales
and will be rolled out to include 2 and 3 bedroom homes on the
14th December 2007. The aim of the Government is to cut carbon
emissions from homes. This means every person selling their
home after this date must provide potential buyers with a
Pack. Failure to do so will lead to a fine.
The Pack
includes an Energy Performance Certificate (EPC) plus searches
and other legal documents.
2. How will Home
Information Packs help the current buying and selling
process? HIPs aim to reduce the stress of buying
and selling a home by providing key documents at the time a
property is put onto market. Currently this information is not
normally made available until after an offer has been
negotiated.
The Packs aim to increase confidence in the
sale process from the start. Estate agents marketing homes
with Packs will be required for the first time, to belong to
an approve consumer redress scheme. This means more peace of
mind and a better standard of service for
consumers.
3. What is in a Home Information
Pack? The Pack will include the key documents that
are normally required when homes are bought and sold. Some
documents will be compulsory and others
optional.
The compulsory documents
include: • An Index (a list of the contents of the
Pack) • An Energy Performance Certificate • A sale
statement (summarising the terms of sale) • Evidence of
title • Standard searches (e.g. local authority enquiries
and a drainage and water search) • Where appropriate,
leasehold information
Optional documents
include: • A Home Condition Report • A legal
summary • Guarantees and warranties • Other searches
relevant to the particular area • A Home Use Form • A
Home Contents Form and additional relevant
information
Sellers are allowed to market their homes
with an EPC, sale statement, evidence of title and index, so
long as the other mandatory documents have been
commissioned.
4. What is an Energy Performance
Certificate? An Energy Performance Certificates
(‘EPC’) will tell home buyers and sellers about a home's
energy efficiency - using A to G ratings, like those used to
rate fridges and washing machines. A home's energy rating will
be attached to the particulars, which estate agents give to
potential buyers.
The Certificates will also make
recommendations for cost-effective improvements that can be
made to help cut fuel bills and carbon emissions. According to
Government figures, homes currently account for 27% of the
UK's carbon emissions, contributing to global climate
change.
The EPC is prepared by Domestic Energy
Assessors or Home Inspectors who are members of a Government
approved Certification Scheme. The Government estimates that
by following the recommendations in an EPC, an average of £300
a year can be saved in fuel
bills.
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