HOME INFORMATION PACK (HIP).

 

Since the 15th December, 2007, new government legislation requires vendors to have a HIP on their property.

The idea of a HIP is to speed up the often lengthy time that a sale takes from an offer being agreed to exchange of contracts.

A HIP includes the following:

EPC (Energy Performance Certificate)
Evidence of Title
Local authority searches, including water and environmental.
Fixtures and fittings list

COST:

If you instruct a HIP providing company, prices range from £295 to approx £350, plus VAT. This payment is either made up front or can be deferred for up to 12 months for an additional £50, plus VAT.

However, should you instruct LANGLEYS ESTATE AGENTS to market your property and use our recommended firm of Solicitors, the cost is £230, inclusive of VAT, which is added to your bill, only on completion of sale and therefore is offered on a NO SALE NO FEE BASIS.

As from the 1st October 2008, legislation will be introduced requiring HIPS for all Rental properties, although currently the exact requirements are unclear and we will post further information when available.