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HIPS - How much?
dekh
Posts: 237 Forumite
Hi All,
A bit of market research.
Any idea of HIP prices?
Really want no stings attached, not a "Freebie" from an estate agent that will have tie ins or deferred payments that won't be free in the end.
Cheers
A bit of market research.
Any idea of HIP prices?
Really want no stings attached, not a "Freebie" from an estate agent that will have tie ins or deferred payments that won't be free in the end.
Cheers
:think:
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Comments
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We (I'm an EA) work with local solicitors to produce HIPs for vendors, the vendor deals with the solicitor so the HIP belongs to them and the cost is £295 + VAT. Speak to solicitors in your area to see what they can offer.0
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A government study came up with an average price of £3-400 with most at the bottom end of this. I've seen them advertised for less. A lot depends on whether your property is Freehold. Leasehold generally costs more because more work is needed.
Beware of 'pass-through' costs bumping up the price. Some agents or solicitors add on a handling fee. You don't have to take a HIP through an agent or solicitor. There are lots of independent providers. (You can even do it yourself if you feel brave and are organised.)0 -
Thanks for the replies guys
:think:0 -
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Magic_Dragon wrote: »I recently got one a few weeks ago for £299 INCLUDING vat :j
Yes I've seen that price a few places. Always be aware of the VAT bit! I believe the government report I quoted earlier included VAT.0 -
Beware of 'pass-through' costs bumping up the price. Some agents or solicitors add on a handling fee. You don't have to take a HIP through an agent or solicitor. There are lots of independent providers. (You can even do it yourself if you feel brave and are organised.)
Make sure an independent provider is just that, independent. Many will offer cheap HIPs, but you may have to use their conveyancing service as a result. This may not be the best deal for you, check everything.0 -
Make sure an independent provider is just that, independent. Many will offer cheap HIPs, but you may have to use their conveyancing service as a result. This may not be the best deal for you, check everything.
I agree. I saw a HIPs recently as cheap as £180 but the conveyancing it was tied to was massively overpriced. The other thing to watch out for with cheap HIPs is the format they come in - many solicitors like to be able to access the HIP online and each document individually as well e.g. download the searches but not the EPC.
Also, most cheap providers don't renew the searches when they go out of date in the eyes of the buyers solicitor which means these HIPs have a useful life of about 6 months or so. Of course the searches may carry insurance extending their life by up to 12 months but that won't be much comfort to solicitor who may have their reputation damaged or the buyer who ends up with some monstrosity going up in place of the view they paid an extra 40k for (worst case scenario) !Happy to help with HIPs and EPCs0 -
Leasehold generally costs more because more work is needed.
Its only extra cost to the HIP provider if they need to obtain a copy of the lease from the solicitor and are charged £50 or so for it. If the vendor can supply the lease the pack should be the same price as their freehold HIPs.
Hows that for moneysaving? :rotfl:Happy to help with HIPs and EPCs0 -
Do you need HIPs if you sell your house privately?0
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I've just had a hips pack done for my 2 bed semi detached which cost me £350 including VAT. All i need now is a buyer
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