HIPs become mandatory on 1st June 2007 for anyone selling a residential property and will consist of a detailed set of documents providing key information such as copies of a property’s deeds and details regarding its energy efficiency. This move makes Hamptons the first major residential agent to announce such a strategy.
As part of its HIPs solution, Hamptons International will not only help to organise all documentation required, but arrange a HIP for its clients free of charge (subject to terms and conditions*). The cost of a HIP is anticipated to be between £300 - £1000.
Mark Anderson, managing director Residential Agency, Hamptons International, said: “Hamptons free HIPs strategy has been carefully designed to take our client’s unique property requirements into consideration. In addition, we wanted to help manage any client concern over what needs to be included in a HIP and ensure the highest quality service and expertise is made available to them. Without a doubt, the introduction of HIPs marks one of the most fundamental changes to the way property is bought and sold in the UK and Hamptons has worked intensively to develop a strategy to help ensure implementation is as successful as it can be."
Emma Davies, operations director at Hamptons International, said "Many potential sellers are concerned about the impact of HIPs and it is evident that a number will take the decision to market their properties before the June implementation date. However, for others this timeframe will just not be suitable.”
From 1st June 2007, if you are selling a property the law will now require you to produce a Home Information Pack (HIP).
