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QUESTIONS ASKED FREQUENTLY BY SELLERS

How much is a Home Information Pack (HIP)?

The cost of commissioning the HIP is not prescribed and, in practice, will depend upon a number of things, including type of property and location – for example, the cost of local enquiries varies across the country.  The contents of the HIP are not superfluous costs – the vast majority of the components in the HIP are already borne by the buyer in the current process, so HIPs are largely a reordering of the current conveyancing process.  The only item in the HIP with no previous equivalent in the conveyancing process is the Energy Performance Certificate, which is required under legislation implementing an EU directive.

Why do I have to have one?

The Home Information Pack is a set of documents providing important information about a property such as searches, copies of the deeds, and information regarding its energy efficiency.  Previously, much of this essential information only came to light when an offer had been made and accepted.  In the meantime, buyers were negotiating in the dark and wasting money on legal fees and searches.  Providing this information, at the time of marketing a property, will make the home buying and selling process more efficient and transparent.

How long will a Domestic Energy Assessor (DEA) or Home Inspector take to do my Energy Performance Certificate (EPC)?

The DEA or Home Inspector has to physically visit your home in order to undertake the energy performance assessment.  The assessor is likely to be in your property for on average an hour, although this will vary according to the size of the property.

When should a seller include an explanatory document in a HIP?

Whenever a seller or buyer may find a component difficult to understand an explanatory document would be useful.

What is the shelf life of a HIP?

On the assumption that all regulations have been complied with when a HIP is compiled, none of the components of a HIP has a prescribed shelf life whilst the property remains on the market.  The contents may, however, be reviewed at any time.

 
 
       
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