Home Information Pack (aka HIP) Explained

Home Information Packs, also referred to as the ‘Seller’s Pack’, is a set of documents conveying information about any property owned by an individual in England and Wales. This means that, if any owner intends to sell the property, then he/she has to produce the set of HIP documents relating to the property. Sale Statements, The Energy Performance Certificate, Local authority Searches, title documents, etc., are some of the most important HIP documents.

To ensure a more transparent and viable transaction between the property seller and the buyer, the Home Information Pack documents were introduced. This curbed the rampant growth of manipulations, gazumping and mismanagements in this domain.

The property seller and the buyer confronted many difficulties, due to lack of adequate information. The buyers lacked the right information and the seller could not reach at a realistic price for the property. However, with HIP documents the unwanted problems could be curtailed.

Since, it has become inevitable for the property owners to produce HIP documents according to the provisions of the Housing Act 2004, therefore the whole transaction process has gained more transparency and authenticity. This has satisfied both the sellers and the buyers on all accounts.

Essentially the details in Home Information Packs have been bifurcated into two clearly defined portions – the required and authorized. The required portion contains the compulsory information that includes EPC certificate, Local Authority and Drainage Searches, Sale Statement/Terms of Sale, the title documents for the property and most importantly the Home Information Pack Index.

Any person inclined to sell his/her property need to submit the documents regarding required information. However, the documents should have been issued three months before of the date on which the property was marketed for the first time.

Post Author: admin

Leave a Reply

Your email address will not be published. Required fields are marked *