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Home Information Packs (HIP Pack) Suspended in May 2010A Home Information Pack (HIP) is a set of documents that provides the buyer with key information about a property including a sale statement, title documents, property information questionnaire and Energy Performance Certificate. Home Information Packs were first introduced in late 2007, and were a requirement by law before a property was to be marketed.Costing between £300 and £600, Home Information Packs were supposed to make the selling process more transparent, aptly informing the buyer and improving the marketability of the seller’s property. However HIPS were proving too expensive and became a hassle for sellers and agents, and indeed The National Association of Estate Agents had said that HIPs had "failed to benefit homebuyers and actively discouraged sellers". Home Information Packs (HIPs) were hence suspended for a period before being completely abolished in May 2010. It remains that the opinion on the usefulness of Home Information Packs is split, with some seeing it as a hindrance and others as valuable information. Although HIPS are no longer a requirement by law, a seller can still chose to provide one if they believe it will benefit the saleability of their property. Optional content in Home Information Packs include a home condition report and a legal summary, but the absolutely essential part is the Energy Performance Certificate (EPC). While Home Information Packs (HIPS) have been abolished, an Energy Performance Certificate (EPC) remains a requirement by law for every property marketed for sale or rent. An Energy Performance Certificate (EPC) measures and calculates the energy efficiency of a property, providing a 5 page document with the subsequent findings. Failure to conduct an Energy performance Certificate for a marketed property will incur a heavy fine. To order your Energy Performance Certificates (EPC) please call us on 0208 660 0104 |
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