What is a Home Information Pack
Under the provisions of the Housing Act 2004 a Home Information Pack (HIP), sometimes called a Seller's Pack, must be provided before a property in England and Wales can be put on the open market for sale with vacant possession. There is separate legislation for Scotland that requires anyone selling a property to provide a Home Report.
The pack is a set of documents about the property: an Energy Performance Certificate, local authority searches, title documents, guarantees, etc. The introduction of HIPs has been subject to delays and reduced requirements, but they became mandatory for homes with four or more bedrooms on 1 August 2007 and were extended to three-bedroomed properties from 10 September 2007. As of April 6, 2009, all newly commissioned HIPs must contain a Property Information Questionnaire (PIQ).
The Government cited the theory that Home Information Packs would lead to a reduction in the number of abortive sales as their justification for introducing the scheme, reducing gazumping and gazundering. They were introduced despite very strong opposition from the building industry and estate agents, as well chartered surveyors. There are claims that the packs have contributed to the 2007-09 housing crisis by deterring vendors from marketing their houses due to the extra costs involved in the survey.
