The Government has introduced Home Information Packs (HIPs) to help speed up the home selling process and provide vital information that will help in reducing excess carbon emissions from residential properties. Every year millions of pounds are wasted on transactions that fall through. HIPs will help prevent this terrible waste and ensure that searches and vital information needed by the buyer are provided at the start of the transaction. A buyer will be provided with an Energy Performance Certificate giving performance ratings for the property that can help the seller or the buyer pinpoint areas that might be improved to assist with energy conservation. The person who markets your property is responsible for obtaining the HIP and this will usually be your estate agent. Failure to obtain a HIP before marketing can result in a fine.
The following compulsory documents must be included in a Home Information Pack:
You or your estate agent can order your HIP using our sophisticated online ordering and tracking system. As soon as the order has been placed, our system gets to work assembling the legal components of the pack and ordering the searches and the Energy Performance Certificate. When all the documents are available we assemble these into the completed HIP that is available for your buyer to view. Firsthips works with established and experienced conveyancing lawyers who supervise the HIP assembly process and encourages you to instruct your own conveyancing lawyer who will eventually be handling the legal aspects of the sale for you when a buyer has been found.
Payment is made at the time of ordering by credit or debit card. Payment can be deferred over a ten month period but at a higher cost.
HIPs have been in the planning stages for the past ten years and during that time the government has changed its mind over what should be included in the HIP. Originally the seller had to provide a survey and more comprehensive legal documents, but these have been dropped and critics have said that the watered down version of the HIP has no value. However, the existing HIP is still extremely useful for the buyer as it saves paying and waiting for searches that can take weeks to arrive and there is no doubt that this will speed up the transaction. The Firsthips system has been designed from the outset to encourage conveyancers and estate agents to participate in such a way that HIPs not only contain all the necessary legal documents, but as much useful information as possible.