Section 155 of The Housing Act 2004 came into effect on 1st August 2007. This Act requires the seller of a residential property to provide a HIP.
Initially the HIP will be required for properties with 3 bedrooms or above only.
A HIP is a document which provides factual information with regards to the title and energy performance of the property. This document is intended to assist the buyer in making an informed decision and reduce the time taken completing the sale/ purchase transaction.
A HIP currently contains two mandatory components:
In addition to these components, the seller has the opportunity to include other relevant documents to make the HIP more informative. Such documents could be:
- A Home Condition Report (HCR)
- Building plans
- Planning permission
- Double glazing certificates
- Any other information relating to the property which may assist in reaching an earlier conclusion of the sale process.
