1. What is a Home Information Pack? The Home Information Pack is a set of documents providing
important information about a property, such as its’ energy efficiency,
boundary ownership and planning permissions. The Pack became compulsory for properties from 14th December 2007. Designed to improve the home buying
and selling process the pack is also part of a wider Government objective
to help cut carbon emissions from property. The pack will include an Energy
Performance Certificate (EPC) plus searches and other legal papers. Then, as more energy assessors complete their accreditation, the legislation will be extended to include smaller homes. This
means that for every person selling their home and for nearly all types of
sale including private sales a pack must be provided
to any potential purchaser. Failure to comply with this new legislation may
result in a substantial fine. 2. How will the Home Information Pack help with the buying and selling process? The pack is aimed at reducing the stress out of moving by providing key documents
at the time a property is put on the market. Currently this information is
not available until after an offer has been agreed therefore often causing
sales to be renegotiated or even lead to collapsing. The pack increases the
confidence in the sale process from the start. Estate Agents will be obliged
to be members of an approved consumer redress system. 3. Who will prepare my Home Information Pack? Paul Wright & Co. can
compile your pack. However, a number of organisations like lawyers and specialist pack providers can compile your HIP. These may seek additional business so in most instances
Paul Wright & Co would be best placed to arrange your Home Information
Pack. 4 . What is in a Home Information Pack? The Packs will include the key documents that are normally required when
homes are bought and sold. Some documents will be compulsory and others optional
such as a Home Condition Report (HCR). The compulsory documents include: Leasehold property requires more detail. 5. What is an Energy Performance Certificate? Energy Performance Certificates (EPCs) will tell homebuyers
and sellers about a home’s energy efficiency – using A to G ratings,
like those used to rate fridge and washing machines. The certificates will
also be able to make recommendations for cost-effective improvements that
can be made to help cut fuel bills and carbon emissions. The EPC is prepared
by a Domestic Energy Assessor who are members of a Government approved Certification
Scheme. 6. What is a Home Condition Report? * (Optional)* The HCR contains information about the physical condition of a property.
Sellers who provide HCRs will have an early opportunity to carry out repair
work on their home or obtain quotes prior to marketing. Potential buyers will
be aware of repairs undertaken or required and can better judge as to whether
to purchase or not. In additional to providing practical information about
a property it is possible that purchasers may consider it better to offer on
a property with an HCR as it provides additional reassurance. Qualified and
regulated Home Inspectors impartially prepare the HCR which can be legally
relied upon by all parties. 7. How much will the pack cost? POTENTIALLY FREE. The cost of preparing the pack may vary depending
upon a number of factors. Sellers may choose from a variety of pack options
as it is possible to order different types of packs. Paul Wright & Co
can help homeowners select the ideal pack to suit individual requirements.
It is illegal to commence marketing until the pack has been prepared. Remembering
this, Paul Wright & Co are
committed to offering as near to 1 st day marketing as is possible. In addition,
Paul Wright & Co can help
minimise costs by offering flexible payment options ranging from discounted to deferred,
from inclusive to in most cases NO SALE/NO FEE. It’s
worth homeowners remembering that the pack on any related purchase is free
for their use. Therefore, the system benefits sellers and buyers equally. For
first time buyers however, HIPs are an added bonus. Don’t be confused
contact Paul
Wright & Co
.