Home information packs in Colchester
What is a HIP / EPC?
What are HIPs and EPCs?
Home information Packs (or HIPs for short) are designed to help the buying and selling process and will contain important information about the property being sold.
For sellers, providing a pack upfront should reduce the likelihood of any nasty problems in the selling process that would delay the sale, as buyers will be more informed to make the right decision about their property.
For buyers, the Pack provides vital information about properties they are considering buying.
By providing this information as early as possible in the sale of a home it is expected that the whole process will be speeded up and fewer sales will fail.
What is in a HIP?
The Home Information Pack must include all the documents they are normally required when homes are bought or sold.
Some documents are compulsory and other optional. The optional documents will add value to the prospective buyer in providing additional reassurances and relevant information of the home or the area it is in.
The compulsory documents are:
- An index (i.e. List of contents)
- Energy Performance Certificate (covered latter)
- A sale statement (summarising the terms of a sale)
- Evidence of title
- Standard searches (e.g., Local authority enquires and a drainage and water search)
- Common hold information if applicable
- Leasehold information if applicable
The optional documents might include:
- A home contents form
- Other searches to the relevant area
- Internal layout of the home
- Information regarding heating and hot water systems (providing information available and current)
- Local information (i.e. schools, doctors and dentists etc
It can include many things providing they are factual and relevant to the property in question.
Can I put my home on the market without a HIP?
Currently providing proof that a HIP has been ordered, a home can be marketed without physically having the pack in your procession.
What is an Energy Performance Certificate (EPC)?
As from 1st October 2008 all properties either for sale or let will require an EPC to be available for inspection by a potential buyer or tenant.
EPCs will inform buyers and tenants about the energy efficiency of a house - using a rating system similar to fridges and washing machines from A (good) to G (not so good). It is expected that the EPCs will be attached to details given out to potential buyers or tenants by estate agents etc. EPCs will also include recommendations for any improvements that can be made to assist in the reduction of fuel usage and carbon emissions. This would be evident in reduced energy costs to prospective owners and tenants. All EPCs must be prepared by a Domestic Energy Assessor or a Home Inspector who is a member of a Government accredited scheme.
An Energy Performance Certificate is a detailed assessment of the thermal performance of your home. There are many elements of the property which influence the final rating, these include the construction type, size and age of your home, the water, heating and lighting systems, and an overall account of the thermal insulation levels. When completed this information is used to provide a report detailing the Energy Efficiency Rating.
"Energy performance of the property is becoming more and more important to buyers. A more efficient property may entitle your buyer to a lower rate 'green' mortgage".
What does the Energy Performance Certificate tell me?
UK houses contribute around a massive 30% of all UK carbon emissions and this initiative is part of the wider European legislation to reduce carbon emissions.
Energy Performance Certificates will inform us all how we can reduce the heat losses from our homes; reduce our fuel bills and carbon emissions making our planet a more pleasant place to live.
The Energy Certificate forms part of a report that tells you how energy efficient your home is, in terms of energy usage and how much carbon dioxide it produces each year. This also includes recommendations on how to improve the thermal efficiency and environmental impact of your home and will show what ratings can be achieved if the improvements are carried out.
By carrying out the recommendations of the energy report, your home will be more attractive to potential buyers or tenants.
The average rating for a property in the United Kingdom is a 'D'
Do all properties need a HIP or EPC?
All domestic properties presented for sale must have a Home information pack in place, which includes an EPC. All domestic properties that are presented for rent or lease must have an EPC in place. As above all commercial properties for sale or rent must have an EPC in place from the 1st October 2008, a HIP pack is not required. The few exceptions are as follows:
- Sales of seasonal and holiday accommodation
- Sales of tenanted properties where an EPC has been carried our within 10 year period
- Private sales where the property has not been marketed
- Unsafe (uninhabitable) properties and properties marked for demolition and local authority permission has been granted
- Sales of properties included in a portfolio
What do I do next?
Simply contact us via the contacts pages and we will take you through the process and answer any further questions you may have.