What is HIP View?
Since 2007 all residential properties marketed for sale require a Home Information Pack or HIP.
The HIP is a set of documents giving information about that property. Most of the documents in the Home Information Pack were historically sourced by the buyer’s solicitor, however as they now form part of the HIP the buyers solicitor may choose not to source new ones and instead rely on the documents supplied by the vendor.
The purpose of the Home Information Pack is to speed up the conveyance of the property when a sale is agreed and give potential purchasers information regarding the property such as energy usage.
The HIP is valid as long as the property is continually marketed. However If the property is taken off the market for longer than 28 days you may need to purchase a new HIP.
You should check with your HIP Provider or Estate Agent if you are thinking of removing the property from the market for any reason. There are certain elements of the Home Information Pack which are generally perceived to be ‘out of date’ by property professionals after a certain period of time and the buyers solicitor may choose not to rely on them if the property has been on the market for en excessive period of time.
As from 1st April 2009 certain elements of the HIP will need to be in place before the property is marketed. Pali have systems in place which will prevent a delay in marketing the property. Before 1st April 2009 you only require confirmation that an order has been placed for a Home Information Pack and payment has been agreed.
Companies aim to have their HIP completed within ten working days of orders being placed. However in many cases they are able to turn them round in under five.