HIPs - Frequently asked questions
-----------------------------------
Where can I find out more about the HIPs requirements?
-----------------------------------
Here are some 'frequently asked questions' (FAQs) on Home Information Packs (HIPs). If you do have more questions, the website at www.homeinformationpacks.gov.uk has further information. These FAQs are based on information released by the Government on 1 August 2008.
-----------------------------------
How long does a Pack last for?
-----------------------------------
First, there is no need for a seller to renew a HIP as long as the property remains on the market. But, if a seller decides to take the property off the market, they can remarket with the same HIP as long as they do so within 12 months of the first date the property was marketed. Where a property is taken off the market because an offer has been accepted, only for the transaction to fall through, the seller can remarket his home with the original HIP (even after one year) as long as remarketing starts within 28 days of the sale falling through. This flexibility means that the HIP has a shelf life of at least one year for sellers.
---------------------------------------
When should a Pack be available?
---------------------------------------
Under the temporary first day marketing provision, which ends on 31 December 2008, the production of the Energy Performance Certificate (EPC) to the person responsible for marketing a property triggers the requirement for the rest of the HIP. This means that the 'basic HIP' should be prepared and made available once an EPC has been produced.
The view that a full HIP must always be compiled before it can be provided and shown to prospective buyers is misleading and non-compliant with the Regulations. It is essential that both estate agents and HIP providers understand and act on the need to prepare the basic HIP as soon as possible in the process so more people can fully benefit from the information it contains.
-----------------------------
Making the Pack available
-----------------------------
We understand that some estate agents are not showing Packs to potential buyers or their solicitors. There is no justification for this, especially as the Pack could influence a purchasing decision and the Regulations provide potential buyers with a legal right to have a copy of the Pack on request.
---------------------------------------
Providing paper copies of the Pack
---------------------------------------
Potential buyers are entitled to a paper copy of the HIP and can only be charged a reasonable sum to cover copying and postage costs for this. Sellers are entitled to a paper copy of the HIP produced on their own home entirely free of charge.
.
