Frequently Asked Questions
What goes in a HIP?
The following compulsory documents must be included in a Home Information Pack:
· Home Information Pack Index
· Energy Performance Certificate (EPC)
· Property Information Questionnaire (PIQ)
· Sale statement
· Standard searches (Local Authority and Water & Drainage)
· Evidence of title (i.e. your legal ownership of the property)
· Additional information for leasehold and commonhold sales
You can also include other documents such as a Home Condition Report, an environmental or flood risk search and other information that would be of interest to a potential buyer as defined in the Regulations but these are not compulsory.
How much does the Lowless & Lowless HIP cost?
£350.00 for a property in Pembrokeshire. The cost may be more if the property is located in another area as the cost of the local searches and EPC may be more. The cost would also be more if you wanted additional searches or documents in your HIP.
When can my estate agent begin marketing my property?
From 6th April 2009 marketing of the property can only begin once your estate agent has received the following HIP documents:-
- Index
- PIQ
- EPC (although marketing can start without this document 14 days after it’s request if it is not yet available but is expected to be available within 28 days of the original request)
- Sale Statement
- Office Copies and Title Plan or if unregistered a Search of the Index Map
- If leasehold, a copy of the lease, or confirmation that it has been requested and is expected within 28 days
- The Searches (Local and Water and Drainage) and an Epitome of Title or Abstract of Title or confirmation that those documents have been ordered and are expected within 28 days
As local solicitors we are not only best placed to advise on the legal content of your HIP, but we may also be able to provide you with input on other issues affecting the property being sold.
What impact can a poorly prepared HIP have on a sale?
We produce a fully compliant pack that not only meets our needs, those of the estate agent and, of course, your needs, but that has also been designed with the needs of the buyer’s solicitor in mind. For example, we only use official local authority searches and water and drainage searches rather than agency or personal searches which may not be acceptable to a buyer’s solicitor or mortgage lender. After all, if the buyer’s solicitor does not accept the HIP or the buyer’s mortgage lender will not accept the searches in it, it could cause delays in your sale.
How long does a HIP last for?
While the property is on the market, there is no need to update the Home Information Pack (ultimately, the market decides whether the documents remain acceptable and up to date).
If the sale of your property stops and then starts again, you would normally be required to assemble a new Pack and to update those documents which are now out of date according to the requirements of the Home Information Pack Regulations. However, you can carry on using the same Pack without the need to update any of the documents in the following circumstances:
· Where marketing stopped because you accepted an offer and want to restart marketing because the sale has fallen through, provided that remarketing starts within one year of the date when marketing first began or, if later, within 28 days of the sale falling through.
· Where marketing has stopped for any other reason, you may remarket the property with the same Pack provided that remarketing starts within one year of the date when marketing first began.
