Before marketing your Property
Since April 2007, you need to have a Home Information Pack (HIP) in place before putting your home up for sale.
A HIP is a set of documents providing important information about a property such as searches, ownership details, pointers regarding its energy efficiency and information designed to give potential buyers a better picture of the type of property and its surroundings.
The HIP provides transparency throughout the selling and buying process and reduces any chance of a buyer being made aware of flaws in the property at the end of the process that can cause delays and extra expense to the buyer and seller.
The following is a list of the compulsory contents that need to be included in your HIP by law:
• Home Information Pack Index – this outlines what is included in the HIP and at what date
• Energy Performance Certificate (EPC) – One of the most important parts of the HIP, this summarises the energy efficiency of the property.
• Property Information Questionnaire – This document is designed to allow you to give information to potential purchasers about issues such as what services are connected, building work carried out, parking arrangements and so on.
• Sale statement - this summarises the basics of the sale, including your name, whether the property is leasehold or freehold, registered or unregistered at Land Registry.
• Evidence of title – Title information from Land Registry explains the ownership of the property and the Land Registry Plan shows the extent of the property. If the property is unregistered at Land Registry, an Epitome of Title must be prepared by your solicitor before the HIP can be completed.
• Local Search – this summarises information held by Cornwall Council such as whether the property is in a conservation area, is a listed building, the planning history of the property, the responsibility for maintaining roads and the existence of public footpaths affecting the property. Note that this report may also indicate the likely affect of Radon gas, a naturally occurring radioactive gas. This is in abundance throughout Cornwall and is an accepted part of living in the county.
• South West Water Drainage and Water Search outlines issues such as the location of water and sewerage pipes in the vicinity of the property and water quality tests.
• A copy of the lease for leasehold properties.
In some circumstances a HIP is not required to sell a property such as in the following situations:
• Properties where there is no marketing (eg selling to a member of your family)
• Non-residential properties
•
Properties limited by law to use as holiday accommodation or occupation for less than 11 months per year
• Mixed sales (e.g. shop with flat)
• Right to buy and similar sales
• Sales of portfolios of properties
• Properties not being sold with completely vacant possession
• Unsafe properties and properties to be demolished
You can arrange your HIP through a number of sources; from your estate agent, solicitor or by contacting HIP providers locally. The costs quoted can vary quite significantly and local estate agents and solicitors are increasingly concerned of the quality of HIPs produced in Cornwall by small, unregulated companies.
However, to protect yourself, look for a local supplier who displays the HIP Code logo, which is an industry standard. Also ensure you are choosing a HIP from a reputable local company with the experience to do this right first time and who do not compromise on quality.
For more information, feel free to contact PSG Cornwall, Cornwall's local property expert. Although not compulsory potential purchasers love to see a floorplan of your property to help them visualise the space, and how their furniture will fit in, before a viewing. Ask your HIP provider if they provide a floorplan with the HIP.
Due to changes to the HIP laws implemented in April, a number of documents in your HIP must be collected before the estate agent can market your home. Ensure that your HIP provider focuses their efforts in obtaining these to make sure you are ready to market as soon as possible. Once the HIP reaches this stage, your estate agent will start marketing your property.
