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Landlord EPC
Home Information Packs are now becoming a little more understood by the general public though there are still a few pitfalls to avoid.
To quickly recap;
Home-owners or their agent marketing a residential property in England or Wales are now under a legal duty to provide a Home Information Pack.
The following compulsory documents must be included in a HIP:
Index
Energy Performance Certificate (EPC)
Sale statement
Standard searches
Evidence of title
Additional information for leasehold and common hold sales, where appropriate.
Optional documents in the HIP may include:
Home Condition Report (HCR)
Legal summary
Home use/contents forms
Other documents
Additional information for leasehold and common hold sales, where appropriate.
Pitfalls
1 - Estate agents in general will charge higher rates than if you were to purchase the HIP Pack direct.
Why? Because most agents will contract the work out to an independent HIP provider whether local or national. The estate agents obviously want to make some money on top of what they pay the contracted HIP provider and therefore it is more expensive than if you were to purchase it direct - as with most things, a direct provider is cheaper. Some provider you may feel that they are a direct supplier; though ask them, do you compile the pack or do you contract the work?
2 - It is starting to become more common that if you do commission a Home Information Pack from an independent supplier the agent may ask for a fee. I have seen this described in many ways though the most interesting description has been a 'health check'. Apparently to check the HIP pack is compliant. Estate agents in general, do not have any related qualifications or direct experience in compiling packs as most independent HIP providers do. So I am not sure what qualifies them to give the HIP a 'health check' and charge this fee.
My advice would be if you do come across this HIP Pack 'health check' fee, negotiate it out of your contract with the estate agent prior to signing. After all, most agents will negotiate their fees and probably even more so in the conditions they are facing at present.
There are also exclusions still apply within the legislation and will be writing further articles on this subject and more information can be found our website.
HIP-Consultant.co.uk is an independent specialist in Home Information Pack compilation.
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