Before a property can be marketed For Sale a Home Information Pack (HIP) must be arranged.
A HIP is a set of documents that provides the buyer with key information on the property and must be provided by the seller or the seller's agent. The HIP lets buyers see important information about the property at the start of the process, free of charge. This means there is less chance of buyers becoming aware of any surprises at the end of the process. The HIP can help reduce delays and extra expense to the buyer and seller.
The HIP is made up of required (compulsory) and authorised (optional) items.
If the following documents are unavailable when marketing begins, they should be added to the HIP as soon as they are available. These documents must be included within 28 days of the date the property was first placed on the market:
Other documents can be included within your HIP, but these are optional. If they are included, it could help to speed up the sale and ensure that the process goes more smoothly. These include:
You can compile it yourself or you can hire an estate agent, solicitor or HIP provider to do it for you. Always make sure that your HIP provider is signed up to a code of practice, like the HIP Code. We have negotiated with a leading local solicitor to provide HIP for our clients at discounted prices. They have also agreed to refund most of the cost of this if the client also instructs them to dothe conveyancing.
The seller is responsible for the ost of a HIP.
properties sold through the ‘Right to Buy’, ‘Right to Acquire’ and ‘Social HomeBuy’ homeownership schemes