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HIP on a part exhange
mattpearce79
Posts: 16 Forumite
We have recently been successful in putting in a offer on a property and our house has been offered in part exchange with purchase. My main question was "Do we have to have a HIP" We have had conflicting information that we do and don't have to have one.
We have been told that as it is a private sale we do not have to have one and as the house hasn't effectively been put on the market it is another reason why we don't have to have one.
The esatate agents initially said we did have to have one and when i questioned it further thay then changed thier mind and said we didn't have to have one...
I just want to cover my back and not have any problems further down the line any ideas anyone?
Thanks
Matt
We have been told that as it is a private sale we do not have to have one and as the house hasn't effectively been put on the market it is another reason why we don't have to have one.
The esatate agents initially said we did have to have one and when i questioned it further thay then changed thier mind and said we didn't have to have one...
I just want to cover my back and not have any problems further down the line any ideas anyone?
Thanks
Matt
0
Comments
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Have your ever marketed your house? If so you need a HIP. By marketing i mean is your house with an agent? Have you told anyone your house is for sale? Sounds silly but if your shout from your bedroom window your house is for sale, your need a HIP. If you have simply offered on a new build perhaps without your house being on the market and as you say been offered a part exchange, a HIP is not needed.0
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Hi David, thanks for taking the time to reply...
No we haven't marketed our property at all. The builder that offered us part-ex is only a small independent builder, he and his wife came to our house and the offer was made via his estate agents which he is using to sell his property...and no i did'nt shout anything from my bedroom window!!!
At no point have we contacted anybody and said we want to sell our house, we only said to the builder that we were interested in his property because he was offering part-ex.0 -
Ifs thats the case you DO NOT need a HIP. Anyone tells you different is wrong.0
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