I have heard of "Home Information Packs" but what are they and when do they come in to use?
A HIP is a collection of documents (compulsory and voluntary) detailing essential information on the property previously only available after an offer has been made.
HIPs can be produced in a number of ways but at Buckles Solicitors LLP we can provide all elements of a HIP for you and we will also include such information as guarantees, building regulations relating to your property, electricity and gas reports and planning permissions. Once compiled, the HIP is held by estate agents for the houses they are selling, allowing potential buyers to view important information at the start of the sales process. This aims to reduce the number of sales which fall through after discovering hidden problems.
A mortgage offer will still be required and buyers are encouraged to have their finances in order before making an offer.
