Any regular readers of this blog will probably know that we didn't think much of HIPs, and have been calling for a HIP replacement ever since they limped onto the market.Well, here comes the ERP. Let's hope this brings some improvement to this Government exercise in pointless form filling.
We all live in hope!
Simply HIP, one of the UK’s largest Home Information Pack (HIP) providers is set to upgrade all their HIPs in favour of the new, improved Exchange-Ready Pack.
The Exchange-Ready Pack helps a buyer’s conveyancer proceed more quickly with the transaction once an offer has been accepted by including some, if not all, of the legal information required to prepare a 'solicitors contract pack' at the start of the process. In many cases this halves the time taken to get to exchange of contracts due to the extra documentation included in the packs.
In addition to the documents contained in a standard HIP, the Exchange-Ready Pack contains:
· Contract for sale prepared by a lawyer
· Seller Property Information Form
· Fixtures & Fittings Form
· Additional documents referred to in the Register
· Copies of planning permissions, building regulations consents and guarantees supplied by the seller
· Lawyer’s certificate confirming the pack is exchange-ready
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