BREAKING NEWS.........HIPS UPDATE
Government Announcement - Friday 17th August at 11.59am
The government has just announced that Home Information Packs (HIPs) will become compulsory for THREE bedroom houses from 10th September 2007.
So if you want to avoid paying the extra or delaying your house sale
GET YOUR THREE BED HOUSE ON THE MARKET BEFORE THE DEADLINE.
Government legislation will place an explicit duty on
home-owners or their agent marketing a four bedroom or more
residential property after 1st August 2007 to prepare a Home
Information Pack.
2roost can offer you two ways of owning a “hip” one is with our
associates Norrie Waite and Slater who will provide you with
your Home Information Pack, cost to be confirmed. Or you can use
our Home information pack specialists
HOME-IN
There is no such thing as a free HIP AFTER THE 1ST August, SO
DON’T BE MISGUIDED, each company/agent will have slightly
different costs depending on how much they have paid themselves
and how much extra they will be charging to you, we will not be
putting any mark up on the hips offered to you by our associate,
we will be offering a direct service with our associated
services so you get the best price.
If you are selling a four bedroom or more property, you will
have to have a HiP BEFORE YOU CAN ADVERTISE YOUR HOUSE FOR SALE
AS OF 1ST Aug 2007, so you will need to contact us first to
arrange this for you.
As part of the Government commitment to making buying and
selling homes easier,
Part 5 of the Housing Act 2004 has introduced a legal
obligation on home-owners or their selling agents to have a Home
Information Pack available when marketing homes for sale. This
is set out in more detail in the
Home Information Pack Regulations 2007 and associated
Procedural Guidance. The Government reasoning for Hips
implementation is also set out in their
Regulatory Impact Assessment.
Home Information Packs will provide important information to
prospective purchasers at the very start of their interest in a
new home, giving increased transparency on key issues and
meaning any offer to purchase is based on an informed decision.
If you're unsure what a Home Information Pack is, or what Home
Information Packs contain, we've answered some frequently asked
questions below:-
A Home Information Pack is likely to contain:-
Terms of sale;
Evidence of title;
Copies of any planning, listed building and building regulations
consents and approvals;
Copies of warranties and guarantees, for new properties;
Guarantees for any work carried out on the property;
Local search replies;
An
energy performance certificate.
A Home Condition Report will be provided on a voluntary basis and included as an 'authorised' document.
Additionally, for leasehold properties:
A copy of the lease;
Most recent service charge accounts and receipts
Building insurance policy details and payment receipts;
Regulations made by the landlord or management company;
Memorandum and articles of the landlord or management company
Is there any exclusion from the Home Information Pack regulations?
Home Information Packs will not be required on the following:-
Properties in
Scotland and Northern Ireland
Private sales where the property is not offered on the open
market (e.g. to a family member, neighbour, or friend);
Non-residential property or where homes are in mixed use with
commercial property;
Properties sold with sitting tenants and not available for owner
occupation;
Portfolios of residential property;
'Right to Buy' sales by Local Authorities or other social
landlords;
Homes held on a lease of less than 21 years;
What is a Home Condition Report?
The Home Condition Report element of the Home Information Pack is a completely new report format which has been developed by the Government with the help of organisations such as the Royal Institution of Chartered Surveyors. It will cover the general condition of the property bearing in mind its age, character and location and highlight any defects requiring action.
The Home Condition Report will be a 'mid range' survey similar in detail to the current Homebuyers' Survey and Valuation Report, but excluding the valuation.
What is an Energy Performance Certificate?
The government is committed to comply with EU Directive 2002/91/EC which aims to promote improvements in the energy performance of buildings.
The EU directive requires an energy performance certificate for all dwellings at the time of sale.
The certificate will give prospective purchasers an easy to read guide to the likely energy costs of occupying the property in a similar way that current 'white goods' have an efficiency label.
Domestic energy consumption causes 25% of national CO2 emissions, and heating uses 90% of energy in the home. Improvement in the energy efficiency of our homes is therefore important in reducing our overall emissions.
