HIPs
Do I need a Home Information Pack?
With few exceptions, you now need a HIP if you are marketing your property for sale.
If you are uncertain about whether or not you will need a HIP please contact KbKLaw on 0800 037 9095 before instructing your Estate Agent.
What is a Home Information Pack?
A Home Information Pack or a HIP as they are commonly known in its current form consists of information proving the title to the property you are selling and an Energy Performance Certificate which provides a perspective buyer with information about the energy efficiency of your home and its effect on the environment.
How much will a Home Information Pack cost?
The price of the HIP will depend on the title to the property.
The differences in price reflect the fact that more legal work needs to be done if the property being sold has a leasehold title or is unregistered.
Freehold Registered Houses £299 inclusive of VAT
Unregistered Freehold Houses and Leasehold houses £375 inclusive of VAT
Leasehold Flats £399 inclusive of VAT.
These charges do not include any fees or charges which may be made by a management company for the provision of information about a leasehold title.
The above prices are estimates provided on the basis of an average four to five bedroomed house.
We do reserve the right to amend these fees in the event that the property is unusually large or any event of any complexities relating to the inspection process. However we will not proceed with any energy performance assessment until a price is agreed.
The above prices do not include any subsequent conveyancing charges or expenses.
Why should we obtain a HIP from kbklaw?
We are an experienced conveyancing practice and have decades of experience in dealing with domestic conveyancing.
In addition we also have qualified Home Inspectors available some of whom will be employed by the firm who have been personally vetted and approved. In addition we believe that a Home Information Pack should be prepared by a solicitor because of its legal content.
There will be other companies offering Home Information Packs. However we can guarantee that our packs are prepared by specialists in their field. i.e. Solicitors, Personal Search advisors and qualified Domestic Energy Assessors and Home Inspectors.
Please remember that a poorly prepared Home Information Pack can lead to a sale being delayed.
At kbklaw we work in conjunction with a large number of other local law firms with whom we have agreed standard procedures, protocols and enquiries. This has been achieved so that the transaction time of conveyancing work undertaken by our firms can be reduced and have agreed minimum standards so far as the content of Home Information Packs is concerned.
In addition, if we are dealing with your conveyancing, whilst your property is being marketed we will work with you and your agent to ensure that all possible enquiries that could be raised by a buyer can be answered and help you make sure that all relevant document, approval and consents etc are ready and available in readiness for a buyer.
From 1st August the process of selling your home has changed.
The Old Way:
Obtain a valuation
Find an Estate Agent
Find a buyer
Instruct a Solicitor to undertake the legal work
The New Way:
Instruct a Solicitor to advise and prepare your HIP and help you obtain a valuation and choose your Estate Agent
Find Buyer
Under the old system the buyers would have to pay for searches and surveys but under the new system the cost of searches is met by the seller within the HIP. However if the ‘seller’ is also buying they will benefit from ‘free’ searches from their seller.
A Home Information Pack is compulsory for some properties and contains an Energy Performance Certificate and information about the legal title of your home. When it comes to selling your home you should make sure that you are in safe hands and use a trusted legal professional to produce your HIP. kbklaw are well placed as experienced conveyancing practitioners to help you both with your Home Information Pack and conveyancing needs.
What is a Home Condition Report and will I need one?
A Home Condition Report is as it says a report on the condition of your property.
Only a qualified Home Inspector can carry out a Home Condition Report and it involves a detailed inspection of the main elements of your home i.e. floors, walls, roof and all surfaces to the property.
The inspection will normally take two to three hours and is likely to cost in the region of £350-400 plus VAT but this will depend on the size and type of property and its location.
The report will provide a condition rating for all the main elements and will highlight those areas of the property that need attention. One of the benefits of a Home Condition Report is that if any part of the property does need attention you will have an opportunity to carry out remedial work and repairs prior to a sale being agreed.
Also, if your property is in very good condition it will provide confidence to any perspective buyer and may make your home more attractive than a similar property without a Home Condition Report.
For further information about Home Condition Reports please phone Steve Battarbee on 0800 073 9095.
At the moment a Home Condition Report is not a compulsory element of the Home Information Pack but it can be added as an approved document.