Home Information Packs (HIPS)
In 1998 HIPs were suggested as being a solution to the problems caused by “gazumping”. It was thought that if buyers of residential properties were provided with a survey of condition and search results etc when viewing the property, exchange of contracts and a commitment to sell and buy would be brought forward, therefore avoiding the risk of a second buyer offering a higher price and “gazumping” the original buyer. Over the years the format of the idea has changed as gazumping has become less of a concern. The Government has continued to press for the introduction of HIPs despite the goal posts moving, as the Energy Performance Certificate (EPC), which forms part of the HIP dealing with issues such as energy efficiency and conservation, neatly enabled them to comply with EEC obligations following the Kyoto Protocol. Although the Home Condition part of the HIP is voluntary, as from the 14th December, all residential properties can only be marketed for sale with a HIP. Delays in the conveyancing process have not been prevented as Mortgage Lenders still require a valuation which is not included in a HIP and buyers will still require a survey unless a Home Condition Report is provided voluntarily, which is unlikely because of the additional cost to the seller.	Despite the apparent limited value of the pack to the consumer, it seems that the HIP is here to stay. Apart from the EPC, the HIP includes a Sale Statement, search results from the Local and Water Authorities, evidence of title and additional information in relation to leaseholds including a copy of the Lease and maintenance charge details. Solicitors are the obvious first port of call when it comes to preparation of a HIP as the contents (apart from the EPC) have always been a routine part of the conveyancing process. Once a buyer is found for the property, the solicitor who has prepared the pack will be geared up to handle the conveyancing of the property, speeding this part of the process at least. Using our experience and modern technology Menneer Shuttleworth are able to produce a HIP, satisfactory to Estate Agents and attractive to buyers on reasonable terms. If you are selling your home then email Debbie Purfield at our Bexhill office:bexconvey@menneershuttleworth.co.uk for a sample pack quoting HIPY

Home Information Packs (HIPS)

In 1998 HIPs were suggested as being a solution to the problems caused by “gazumping”. It was thought that if buyers of residential properties were provided with a survey of condition and search results etc when viewing the property, exchange of contracts and a commitment to sell and buy would be brought forward, therefore avoiding the risk of a second buyer offering a higher price and “gazumping” the original buyer.

Over the years the format of the idea has changed as gazumping has become less of a concern.

The Government has continued to press for the introduction of HIPs despite the goal posts moving, as the Energy Performance Certificate (EPC), which forms part of the HIP dealing with issues such as energy efficiency and conservation, neatly enabled them to comply with EEC obligations following the Kyoto Protocol.

Although the Home Condition part of the HIP is voluntary, as from the 14th December, all residential properties can only be marketed for sale with a HIP.

Delays in the conveyancing process have not been prevented as Mortgage Lenders still require a valuation which is not included in a HIP and buyers will still require a survey unless a Home Condition Report is provided voluntarily, which is unlikely because of the additional cost to the seller.

Despite the apparent limited value of the pack to the consumer, it seems that the HIP is here to stay.

Apart from the EPC, the HIP includes a Sale Statement, search results from the Local and Water Authorities, evidence of title and additional information in relation to leaseholds including a copy of the Lease and maintenance charge details.

Solicitors are the obvious first port of call when it comes to preparation of a HIP as the contents (apart from the EPC) have always been a routine part of the conveyancing process.

Once a buyer is found for the property, the solicitor who has prepared the pack will be geared up to handle the conveyancing of the property, speeding this part of the process at least.

Using our experience and modern technology Menneer Shuttleworth are able to produce a HIP, satisfactory to Estate Agents and attractive to buyers on reasonable terms.

If you are selling your home then email
Debbie Purfield at our Bexhill office:bexconvey@menneershuttleworth.co.uk
for a sample pack quoting HIPY