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Home Information Packs (HIPs) now apply to all homes in England and Wales. That means, if your home went on the market after 1 August 2007, you will need to prepare an information pack for its sale. But what exactly are HIPs and how do they affect both us and the housing market?
The packs include:
The home condition report is an objective report on the condition of the property that can be relied upon by buyer, seller and lender. It covers matters of importance to a buyer - the general condition of the property, taking account its age, location and character; how energy efficient it is; and any defects or other matters requiring attention. The report needs to be produced by a qualified home inspector.
The home condition report is similar to a homebuyer's survey and valuation, although without the valuation element. However, we would always recommend a building survey, too, and particularly for older properties, listed buildings and properties that have been constructed in an unusual way or have had extensive alterations.
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