London Estate Agent Offers Free HIPs and EPC
Which? magazine have been monitoring the cost and availability of Home Information Packs on three bedroom properties since December 2007 when the provision of a HIP was made compulsory on all homes up for sale in England and Wales.
The consumer magazine found that the price of a pack, which includes the usual searches and an Energy Performance Certificate varied enormously. More surprising perhaps was that potential buyers often struggled to get a copy of the HIP. Estate Agents refused to email copies of the document.
The Home information pack was introduced in order to simplify and speed up the sale of a property providing more of the information that potential buyers need up front, and homeowners in England and Wales must now have one of the packs in place before they can begin marketing their property.
Which? advise that “A Hip should cost between £300 and £400 for a typical three-bedroom semi. This could rise to between £600 and £800 if you top it up with a home condition report.”
London Estate Agents Paramount Properties are offering free HIPs on all residential sales as part of their 25 year anniversary. Paramount Sales Director, Mr Robert Lazarus said “A significant percentage of vendors are put off by paying the cost of the HIP at the outset.
Paramount are easing the vendors worries of this additional cost by offering Free HIPs until the end of October”
Paramount Properties have extensive experience of helping Home Owners with Home Information Packs, HIPS. From the 6th April 2009 the Home Information Pack regulations will change to include:
- Introduction of the new Property Information Questionnaire – PIQ
- Removal of the temporary first day marketing exemption
- All searches, whether produced by a local authority or a search company, must be complete with no gaps in the data covered by insurance.
To be able to market your property the following documents must be in place and available:
- Index
- Property Information Questionnaire (PIQ)
- Energy Performance Certificate (EPC) or Predicted Energy Assessment (PEA) for new homes marketed before completion
- Sustainability information (new homes only)
- Sales Statement
- Evidence of Title – HMLR Title Plan and Register. For unregistered properties a search of the index map must be included.
