 |
What is the shelf-life of a HIP ? |
15 October 2009 Generally speaking the HIP has a shelf life 12 months, however while the property is on the market there is no need to update the HIP. If the sale of your property stops and starts again, you may have to compile a new HIP or parts of the HIP such as some searches. Still, if the marketing stops for any reason you can carry on using the same HIP as long as remarketing starts within one year of the date when marketing first began or within 28 days of the sale falling through. Remember, if part of the HIP, the searches become out of date, you the vendor don't have to update them, this will be down to your buyers' lawyer and if you're a cash buyer and your happy with the searches you can use them to complete the transaction as long as your lawyer is happy and covers all eventualities with his insurance etc.
In the event of changing estate agent, you will be able to use the same HIP if the house remains on the market and you paid for the HIP. If you didn’t pay for the HIP the agent may charge you to transfer or pay up in full to exit that agent. So do pay for your HIP and keep a copy. If you change agents in the second year without a break in marketing then a new HIP will be required but hopefully you would have moved by then!!
|
|
|
Doing your bit to fight climate change |
01 October 2009 Energy Performace Certificates (EPCs) are the colourful graphs you see
on property details that give information on how to make your home more
energy efficient and reduce carbon dioxide emissions.
All homes
bought, sold or rented require an EPC. The rating measures the energy
and carbon emission efficiency of your home using a grade from 'A' to
'G'. An 'A' rating is the most efficient, while 'G' is the least
efficient. The average efficiency grade to date is 'D'. The EPC will
also show the property's potential energy-efficiency status. All homes
are measured using the same calculations, so you can compare the energy
efficiency of different properties easily.
Around 27 per cent
of the UK's carbon dioxide emissions come from domestic homes. Carbon
dioxide contributes to climate change and we all need to do our bit.
Remember, behind the graph, in the Home Information Pack (HIP), is a
whole report - so do ask to see the full EPC from the agent.
Over the coming weeks, I will be answering common questions regarding the EPC, as well as other aspects of the HIP.
|
|
|
Getting HIP to legislation changes |
17 September 2009 As a provider of Home Information Packs and Energy Performance
Certificates, I'm faced with questions and queries every day
surrounding the ins and outs of these relatively new pieces of
legislation.During the coming weeks, I hope to pass on what I know by
answering all your questions here in Property News. The starting point
for my first column seems clear. What exactly is a Home Information
Pack?
You might have heard of them before, but being fairly new
to the scene there's still a good deal of confusion surrounding these
documents. Still, though they might look daunting, they're really
relatively straighforward. The Home Information Pack, or 'HIP', is a
set of documents that provide the buyer with key information on the
property being sold. HIPs are compulsory for most homes on the market
in England and Wales, and their aim is to make key information
available from the first day a property is put on the market. Within
the HIP you can expect to find evidence of title, which gives details
of ownership, standard searches, including local authority searches,
drainage and planning, a Property Information Questionnaire (PIQ), plus
an Energy Performance Certificate (EPC), which gives information on the
energy efficiency of the property.
HIPs are provided by the
seller or the seller's agent, and have to be available from the first
day the home is marketed. By allowing buyers to see important
information about the property at the start of the process, this
reduces the chance of coming across any unwelcome surprises further
down the line. The HIP can also help reduce delays and extra expense to
the buyer and seller.
|
|
Justin writes: "Many members of the public ask, 'how long will my HIP last?' - the most common question I come across in my working day . I have simplified the answer (subject to change by the government) so please read on."