Home Information Packs Vital Information Needed
Home Information Packs Vital Information NeededAuthor: Kirthy ShettyHome information packs offer crucial information required by a buyer and seller. It becomes important at the very start of the home buying process. A Buyer gets a clearer picture of the house he’s going to buy, and can find out if it’s worth buying. This way one can avoid, any with holding of information about the property. A sale statement, evidence of title will be the key information along with others in a HIP. Such information reduces the number of failed home sales, frauds which is on a rise now. Initially, information on the house required by the buyer was only available after the offer to purchase had been completed. This clearly meant that any problems regarding the condition of the property or legitimacy of any documents provided will not be shown to the buyer until the final costs have been decided. As a result many transactions would fail, or there would be renegotiation on the sale.
The Pack also includes an Energy Performance Certificate that contains advice on how to cut CO2 emissions and fuel bills. As HIP has information on the house, buyers will need it up front, and they will be able to decide faster on the property matter. It is basically a set of documents that provides important information about a property, including legal title, standard searches and energy efficiency. It is said that those responsible for marketing a property for sale – whether they are a housing developer, estate agent or private individual – must make a HIP available to prospective buyers on request.
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