Normal? Buyer wants to view house but we are due to exchange

nixinix

Can you go halves on it? At least it looks like you are trying (I know you are anyway but the HIP is your responsibility the stamp duty isn't, though as you have already agreed to it it is now)

Why did you not complete before you serach date expired....whose fault is it? did your solicitor not inform you that your search ran out of date prior to it running out....then you could have pushed for earlier completion?

brummybloke

if the hip has already been handed to the buyer and a survey completed with hip report already shown to buyer, do you need a new one?

maybe it is for any new buyer, i dont know but it would seem even more of a rip off if a new one was needed in these situations, it seems some people are now getting mortgages or at least being tempted due to the low interest rates, that would meen people are in more position to buy, any seller who has had their house on the market for 12 months will have already reduced their price by around 15 - 20% in most places i would have thought to price it to gain interest or sell. another £350 -£400 on top is really taking the mick.

i would have words with the buyer possibly and insist on a completion date, my buyer was messing around and until i put my foot down firmly they were asking for all sorts of ridiculous things, even to the point of asking me to fix a floor board they had noticed, 2 weeks before exchange, they thought i would travel 200 miles to fix a flipping floor board that had not changed from the 10 times they viewed the house.

they were told to fix it themselves.

peaz

whathavewedone wrote: »

If you've paid her stamp duty for her then I would dig my heels in. The EA wants a sale but if you end up paying out more than you can afford you might be better off even if the deal falls through.

It's completely your call - how desperately do you want to move etc.

Good luck anyway

Well the EA said she refuses to pay and I have said that we'll split the cost- its £100 each. Waiting to hear back from her. Desperately want the house- we have got a really good deal as similar properties would be about £30k more. I just feel like we have financed her purchase to the point that we will move into a place that needs a total rehaul and we cant afford it for 18 months. I just want to cry now.

peaz

macaque wrote: »

If you can't put your hands on £200, what on earth are you doing buying another house?

We've got £17,000 moving costs in the bank- every penny of that should be going towards the house. Just because we are moving doesnt mean we should have to pay for everything our buyer wants us to pay for.

peaz

nixinix wrote: »

Can you go halves on it? At least it looks like you are trying (I know you are anyway but the HIP is your responsibility the stamp duty isn't, though as you have already agreed to it it is now)

Why did you not complete before you serach date expired....whose fault is it? did your solicitor not inform you that your search ran out of date prior to it running out....then you could have pushed for earlier completion?

HIP was done in Feb 08
Offer made and accepted in Oct 08- so no chance to push the sale through as the LA Search had expired before then.

I had no idea about it till yesterday. It seems unfair that sellers have to have a HIP when the house is on the market, yet how many will sell before the LA Search expires, at the moment?

peaz

brummybloke wrote: »

if the hip has already been handed to the buyer and a survey completed with hip report already shown to buyer, do you need a new one?

maybe it is for any new buyer, i dont know but it would seem even more of a rip off if a new one was needed in these situations, it seems some people are now getting mortgages or at least being tempted due to the low interest rates, that would meen people are in more position to buy, any seller who has had their house on the market for 12 months will have already reduced their price by around 15 - 20% in most places i would have thought to price it to gain interest or sell. another £350 -£400 on top is really taking the mick.

i would have words with the buyer possibly and insist on a completion date, my buyer was messing around and until i put my foot down firmly they were asking for all sorts of ridiculous things, even to the point of asking me to fix a floor board they had noticed, 2 weeks before exchange, they thought i would travel 200 miles to fix a flipping floor board that had not changed from the 10 times they viewed the house.

they were told to fix it themselves.

I agree with the first part- it is grossly unfair .

Well hopefully the buyer is still coming round tonight- will try and get a completion date out of her. I wish I could show her the house we are buying and just let her know that we have expenses to ya'know!;)

payless

our Estate Agent reckons they will insist that as it is part of the HIP which we are responsible for, it is our responsibility to ensure it is valid.

It is my understanding ( assuming the property was not previously taken off the market) that the sellers are not responsible for updating the HIP ( ie no legal requirement to update the time senstive documents such as the local seraches) However the buyer may require ( lenders requirements) updated documents - costs around £80-£100 but insurance at £35 ish may be enough

You have fulfilled your legal repsonsibility- obnviously its now down to if this is a matter to save the sale ( personally even if deciding to pay I might do it the other way around - ie offer refund after exchange)

http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/Homeinformationpacks/DG_171803

How long does a HIP last for


While the property is on the market, there is no need to update the HIP. If the sale of your property stops and then starts again, you may have to compile a new HIP and provide up-to-date documents.
However, you can carry on using the same HIP without the need to update any of the documents where:

• marketing stopped because an offer was accepted and the sale has fallen through (but remarketing must start within one year of the date when marketing first began or, if later, within 28 days of the sale falling through)
• marketing has stopped for any other reason and the seller remarkets the property within one year of the date when marketing first began.

so perhaps your well informed EA will pay for giving duff info

peaz

Thanks Payless. I asked about the insurance but my EA said it would cost more than a new search.

As for the expiration date, according to (and I have no idea how to quote from a website) http://www.hipassociation.co.uk/consumers: Q – How long are the packs valid for?
A – There is no end date to a pack. However, the Energy Performance Certificate is valid for 12 months and searches may need refreshing after 6 months – but this isn’t always the case. It really depends on the Solicitor or Mortgage Lender involved.

So its a grey area! And in our case, the buyers solicitors are saying it needs refreshing.

I do like your advice about the refund- I will suggest it to my hubby and if he likes it then we will go for it. I guess it gives buyer an incentive to hurry along with things. She gave us an exchange date of 2 wks ago and we were ready- but she wasnt.

Floxxie

I think your buyer has had more than enough. I would go back to your solicitor and tell them that if the buyers solicitor/mortgage lender wants a new search, then the buyer should pay for it and tell them what reductions they have already had.

As for completion date, tell your solicitor what date you would like and get them to speak to the buyers solicitor to agree a date. It can get very emotional trying to discuss and agree a completion date with your buyer especially if people start making plans on this basis and then it doesn't happen.

You really need to be speaking to your solicitor/conveyancer in the first instance rather than your EA.

P.S. I assume you are referring to indemnity insurance? If so it will be dealt with by your solicitor, not your EA.


Floxxie

whathavewedone

If you had exchanged 2 weeks ago would your HIP have been out of date? Was it really her fault that you couldn't exchange or were there legal issues which still needed sorting out?

I think offering to refund the cost after exchange is a very good idea as it will let you know if she is serious or not.

I think you should be dealing with all this through your solicitor rather than the estate agent. While strictly speaking the EA works for you he has a hugely vested interest in getting the deal through at any cost.

I think it's about time the HIP was scrapped. Buyers always used to have to pay for searches and quite right too. Caveat emptor and all that.

Other than that what's in there? A report telling you that sash windows in old houses are more draughty than UPVC double glazed ones? No **it shirlock.

Okay, I have already admitted that I don't know much about HIPS but from what I have heard they seem to be a waste of time and money.