JTF and S Campbell

HIPs

A HIP is a compilation of all the documents that are required by law prior to the exchange of contracts on selling a property.

It has been designed to improve the process of buying and selling residential property by providing the consumer with details of a property early on in the transaction and therefore preventing delays with the legal information.

The responsibility of providing a HIP rests with the vendor or their selling agent.

CONTENTS OF A HIP

FREEHOLD PROPERTY

• INDEX - A check list, this should be referred to by all parties involved and lists all the documents included in the pack
• Energy Performance Certificate - An energy survey carried out by a qualified DEA. This provides two separate ratings to indicate the overall energy efficiency of the property and the associated CO2 impact. The certificate also provides recommendations on how to improve the energy efficiency of the property.
• Sale Statement - Basic information regarding the site and address of the property, if it is Freehold, Leasehold or Common Hold. Whether it is registered or unregistered and if the property will be vacant on the completion of the sale.
• Standard Searches - Planning and Highways as well as Water and drainage searches.
• Evidence of Title - This provides proof that the seller owns the property and has the legal right to sell it.

LEASEHOLD PROPERTY

These properties will require additional information in the pack

• Copy of the Lease, Services Charge Information and contact details of the property owner or managing agent. A summary of any work planned that may affect a property should also be included.
• Common Hold Properties - Require the official Copy of the individual register and title plans for the common parts. Further information may include details about the property owner and managing agent, as well a summary of any planned work that may affect the property.