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The House Hop Guide to HIPs
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Click here for free conveyancing quotes
*£850 is the average saving on a typical sale and purchase through our panel of conveyancing solicitors compared to using a high street solicitor (Survey of 52 high street solicitors, September 2010).
Guide to HIPs: Part I
What is a HIP?
A HIP is a set of documents that provide key information about a property.It is not compulsory, though sellers may still choose to provide one. The advantage of having a HIP is that it may speed up selling by giving buyers key documents and searches at an early stage.
What does a HIP contain?
There are certain documents that a HIP must contain. In addition, there are certain optional documents.The compulsory documents are as follows:
For freehold properties
- index
- Property Information Questionnaire (PIQ)
- Energy Performance Certificate (EPC) or Predicted Energy Assessment (PEA)
- sustainability information (for newly built homes only)
- sale statement
- evidence of title
- standard searches (local authority and drainage and water)
For leasehold properties
- all the documents required for freehold properties, plus:
- a copy of the lease
Optional documents include:
- Home Condition Report
- legal summary
- home contents form
- specialist searches such as environmental and mining
- guarantees and warranties for work carried out on the property
How much should you pay for a HIP?
HIP prices vary greatly, but you should aim to pay no more than around £200 plus VAT.
Often estate agents will offer to prepare a HIP for you "free of charge". If they do, make sure you read the small print:
- usually you'll be charged for it from the proceeds of your sale
- it will almost certainly cost you more than if you order it yourself
- you are likely to be locked in to using that estate agent
How do you order a HIP?
The easiest and cheapest way to order a HIP is online:
Your HIP can be completed in as little as three days, though it often takes a little longer. You should receive a copy in electronic form (as well as hard copy), so that it's easy to forward on to buyers or their solicitors
- find an AHIPP (Association of Home Information Pack Providers) registered and HIP Code compliant online HIP provider.
- order your HIP online or by phone
