a guide to Home Information Packs
Welcome to the home information pack (hips) guide
What is a Home Information Pack?
The Need for Home Information Packs or HIPs.
Previously when buying a home, much of the information required by the buyer was only obtainable after the offer to purchase had been agreed. Any nasty surprises regarding the state of the property or legitimacy of any documents provided, was not revealed until actual costs had been incurred. This often led for the need to totally renegotiate the terms and conditions of the sale, long delays in the contract exchange process and the inevitable breakdown of many transactions.
In order to reduce the increasing number of failed home sales, the Government introduced Home Information Packs (HIPs). The Home Information Pack or Home Sellers Pack contains vital information that buyers and sellers need to know. So, properties that have been marketed for sale from December 2007 in England and Wales will need a Home Information Pack.
On this site you find information on the Home Information pack - HIPs, links to HIPs Providers and what is in the Home Sellers Pack
Home Information Packs :
Buying a home can be a testing time. For buyers, the Home Information Pack provides free of charge information about properties they are considering purchasing. Before the introduction of Home Information Packs, buyers had to make a formal offer before seeing essential information about a property.
Selling a home can be stressful and was often prone to delays under the previous system. Historically, one in four property transactions broke down due to information coming to light after a formal offer had been made. For sellers, providing a Home Information Pack upfront should reduce the likelihood of any horrible surprises in the selling process that could delay the sale, as buyers will be able to make more informed decisions about purchasing their home. .
Use the links below to navigate the site.
What is in a Home Information pack