Home Information Packs
Most people are now aware that in order to sell a property through an estate agent a Home Information Pack (HIP) is required. Aside from the Energy Performance Certificate the Packs contain the same property information and searches that have been required for many years. Before the Pack regulations came into force the solicitors involved in the conveyancing transaction would obtain and deal with these documents but the new regulations requiring the Packs has opened the door for non-professionals to compile these Packs and it would appear that a great number simply are not what they should be.
Unqualified and unregulated Pack providers advertise that they can provide a cheap and fully compliant Pack but Trading Standards who are charged with the enforcement of the regulations have recently shown that such Packs can be an expensive mistake. It was reported in a national newspaper recently that Birmingham Trading Standards had carried out investigations into the quality of a number of Packs and found that on average 5 out of 6 Packs are riddled with so many mistakes that they are not worth the paper they are written on. The Packs are designed to provide upfront information so that Buyers can make a judgement about a property but if the Pack is inaccurate and misleading it could be a waste of time and money.
By using a solicitor to compile a HIP a seller will know that the Pack will be compliant as the compiler not only knows what must be included but why. Many solicitors may not even charge for compiling the Pack and instead only charge the expenses for the documents included. Therefore the total cost for a fully compliant freehold property HIP that has been compiled by a regulated qualified professional may well be less than £230.00 inclusive of VAT.
A HIP is a legal document and if it is to be of any value it must be accurate and reliable which means those who compile them must understand the documents and their purpose.
If you need a Home Information Pack speak with your local solicitors - have a legal advisor compile your legal pack.
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