Bush Is the HIP Choice
Think twice before you take out a sales package that includes a Home Information Pack, says Andrew Bush, managing director of Bush Property Services.
June 1st sees the advent of Home Information Packs, or HIPs, and already some estate agents are touting sales packages that include them.
Bush, however, isn't among them, and according to Andrew Bush there's a very good reason for that - namely that one size of HIP doesn't fit all.
"Home Information Packs come in a variety of sizes", he says, "And as such it's impossible to offer a single package without taking away all customer choice.
"At its most basic level, a HIP need only include an Energy Performance Certificate (EPC) which tells you how energy efficient the property is. These certificates are commissioned from an assessor who visits the property to collect data including the date, construction and location of the house, and relevant fittings. The EPC will also offer advice on how to improve the energy efficiency of your home either by making changes to the building, or changing behaviour.
"Other compulsory documents, such as an index of contents, a sales statement, searches and evidence of title are also included.
"At its most complex, a HIP will contain a Home Condition Report (HCR) which has information about the physical condition of a property which sellers, buyers and lenders will be able to rely on legally. There may also be a legal summary and home use and home contents details along with forms which let sellers give buyers information on a range of matters relating to the property. These could include information on boundaries, services, planning permissions etc.
"The cost of these HIPs can vary by hundreds of pounds. Whether sellers choose the basic option, the most comprehensive, or somewhere in between will depend on their requirements and the type of house they are selling. For example, sellers who obtain an HCR can carry out repair work or at least obtain quotes prior to the property going on the market.
"Given the vast disparity in cost levels, however, it would be completely wrong of us to offer just one package. We could be making customers pay much more than they need or want to. Whilst we'll obviously offer them excellent advice, it's absolutely not our job to tell customers which type of pack they should have and how much money they should spend.
"It's a similar story with HIP providers. Each part of the pack is completed by a different profession and many agents have already selected their preferred suppliers to carry out each section. Again, where's the choice in that? It's like going to a supermarket and finding they only stock Chardonnay.
"Many of our customers will already know solicitors and surveyors who they want to use. If they don't, we'll be very happy to offer them one from our wide range of partners, but the final choice is theirs. We haven't committed to any one provider and we don't intend to do so."
For more information call Sarah-Jane Jarrold at SJPR 07730 494 154
