The Pack, which has been described by the Law Society as a “Pamphlet” as the requirements for what has to be included in it has been much reduced over time has become an additional unwelcome expense to the conveyancing process. Nevertheless, for the present, HIPs are here to stay.

Care must be taken when directing the HIP to prepared. There has been talk of sellers passing on the cost of preparation to the buyer. In a buyer's market that is not going to be possible, particularly if the searches contained in it are inadequately prepared.

A HIP is intended to set out certain basic information about the house for sale. Many institutions consider the regulations unwieldy and ill-conceived. The HIP is intended to includes local land charge searches, copies on the Land Registry title if registered, and an energy efficiency certificate.

The pack requires skilled preparation, and will be treated by some as an additional marketing tool, to accompany the Estate Agent’s particulars.

 

There will no doubt be several routes methods open to a seller in arranging a HIP:

• Through the Law Society approved provider, Searchflow. Whilst this is unlikely to be the fastest option, provision is available for the facility to be funded by a credit agreement.
• There are likely to be other providers who will be able to make packs available, but they may not be able to provide a personal approach.
• Shepherd & Co can arrange for packs on behalf of clients either under the Searchflow scheme, or in-house. The in-house method is likely to be the quickest way to produce the pack.

 

If you are planning to market your property we recommend that you;

• seek early legal advice: not all property will required a pack to be prepared. We will also be able to advise you on the various pack options available to you, so that you can make an informed decision on when you will be able to bring your property to market.
• arrange for the legal title to be reviewed before the pack is compiled, to present the property in its most marketable state.
• obtain an energy efficiency certificate. Once obtained, this certificate is not time-limited.
• budget for the cost of the pack. It is possible to arrange a credit agreement option.

For further details, please contact David Guille: dg@shepherdandco.com