Tips on How to Move Your HIPs

According to the new rules, HIPs now have to be compiled before the house or a flat is put on sale. That is why, we list several tips that will help make buyers’ and sellers’ life easier. 1.    According to the regulations, all HIPs must contain an index, a PIQ, which discloses the information about the condition of the property, and an energy performance certificate (EPC). The HIP should also include the Land Registry’s proof of title and boundaries. Searches, a copy of the lease, and a sales statement are also a must. At the same time, a Home Contents form, which shows fixtures and fittings, is optional. 2.    You should be aware of the fact that in certain circumstances the seller does not need a HIP. Such situations include sale to a friend or a family member, that is – when you do not market the property. 3.    The HIPs can be provided by your estate agent and by your solicitor. The estate agent might either charge you an upfront fee of £250-£450 or delay it until the sale is completed. The estate agent as well as the solicitor is likely to sub-contract a specialist Hip provider, who has to be a member of the Association of Home Information Pack Providers (AHIPP). 4.    The EPC is being compiled after the energy assessor visits your home and gives it a grade, ranging from A (impeccable) to G (menace). It is highly advised to make modestly priced improvements such as better loft insulation before the visit of the inspector. 5.    Do not be disappointed if your EPC score is low. This does not mean your property should be valued less than you planned to. Buyers usually understand that a Victorian-style house will have lower energy-efficiency than a new-build. 6.    PIQ, or property information questionnaire, is the latest introduction to HIPs. PIQ should be filled in by the seller, preferably with the help of a solicitor. 7.    Sellers have to understand that PIQ questions are sometimes difficult and catchy, and the answers can be actionable if the buyer decides they are misleading. 8.    It will be best if your HIP is complied by a solicitor or an estate agent. However, it’s seller’s responsibility to check for any omissions, as he is one responsible for the HIP. 9.    Generally, it takes providers up to 5 working days to compile your HIP. However, if local authorities’ search is delayed, HIP compilation might take up to 28 business days. 10.    You have a right to complain if you are not satisfied with your HIP.