Reynolds Parry Jones Solicitors - Home Information Packs

Commonly known as HIPs, Home Information Packs have become part of the process of buying and selling residential property. As from 10 September 2007 it became compulsory for anyone selling a property with 3 bedrooms or more to put together a HIP, before the property is put onto the market. The pack must contain a host of information about the property, most of which was provided under the previous (pre HIPs) system, but which came later in the process. The difference, under the new regime, is that the information most be provided by the seller, and at the seller's cost. The pack must include: A sale statement describing the property Must include an index in a prescribed form Copies of deeds from the Land Registry proving the seller's ownership Replies to local authority and drainage searches An Energy Performance Certificate In addition, for leasehold properties the pack has to include: A copy of the lease Up-to-date service charge accounts Information about any current or planned work Any regulations made by the landlord or management company The reason for the introduction of HIPs is to speed up the whole buying/selling process, by putting all necessary information in the hands of the potential buyer before an offer is made. It is also hoped that the prevention of delays will help to eliminate the practice of gazumping. The new system requires the necessary information to be provided at the seller's cost, not as with the previous system, where the buyer (or potential buyer) paid. We are able to provide a full HIPs service, either directly, or through your estate agent, providing a pack that complies with legislation, is backed by the Law Society and payment for which may be deferred until your sale has been completed and the proceeds received. For further information please contact Gillian Humphreys or Margaret Marshall.

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Reynolds Parry Jones Solicitors, 10 Easton Street, High Wycombe, Bucks HP11 1NP
Tel: +44 (0)1494 525941 Fax: +44 (0)1494 530701 partners@rpj.uk.com