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The UK Government has introduced legislation requiring home sellers to have a Home Information Pack (HIP) available for prospective buyers starting August 2007, on a phased in basis. The pack contains information that in the past has only been collected and made available to buyers after an offer has been made and accepted. Key information includes local property search information, water and drainage reports, evidence of title, an energy performance certificate and a draft purchase agreement. In addition, the HIP may contain several optional documents such as a home condition report (HCR), fixtures and fittings and property information forms, warranties and guarantees and other searches and environmental reports. Providing this key information up front is expected to make the home selling process more efficient, transparent and consumer friendly.
Through its subsidiary MDA Advantage, MDA provides Home Information Packs as a neutral wholesaler, working with multiple distribution channels to maximize market penetration. MDA's distributors typically market the HIP under their own brand name with the qualifier "Powered by MDA".
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www.mda-hips.co.uk
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