Buying HIP through EA - can I change my mind?

devilot

I've realised too late, we're being ripped off:o and I told my EA on instruction to let the company they recommended do our HIP. They've not started doing it yet, they've only tried calling me to arrange it.

Will the EA get shirty if I call them to say we're arranging it ourselves? On the agreement I signed, the EA only ticked a box to say it was being provided by HIP.co.uk (the other box said provided by seller).

We've already realised we're probably paying over the odds for our EA fees (fixed fee upon sale rather than commission based, wish I'd have come here first!) so anything we can save from now on would be a bonus.

Robert_Sterling_3

The EA wants to sell you the house.
Ask nicely and he might let you get your own HIP.

googler

Why is a fixed fee frowned upon? You can budget with certainty if the fee is fixed, if it's a percentage varying on price, you can't be sure what you'll be charged until an offer comes in.....

devilot

Huh? Sorry Robert, I'm not sure if you're being sarcastic or not, can you just answer me properly anyone?

I wanted to know if I was now legally obliged to let the EA provide the HIP, anyone with any experience of this etc?

poppysarah

Have you signed a document with the EA agreeing that they can do the HIP?

You could ring them and ask them if it's possible to cancel that bit of the agreement. But bearing in mind they almost certainly get a commission for getting the hip done then will probably say no.

devilot

googler wrote: »

Why is a fixed fee frowned upon? You can budget with certainty if the fee is fixed, if it's a percentage varying on price, you can't be sure what you'll be charged until an offer comes in.....

The fixed fee in this case is around 3% plus vat, from what I've read, thats not very competitive. Bit late now though, at least for the next 14 weeks. I'm afraid we just jumped in feet first and didn't shop around, however now I know with certainty how much the EA will charge, its making it easier to think about how much we can afford to lower our price by/offer on other houses if need be.

devilot

poppysarah wrote: »

Have you signed a document with the EA agreeing that they can do the HIP?

You could ring them and ask them if it's possible to cancel that bit of the agreement. But bearing in mind they almost certainly get a commission for getting the hip done then will probably say no.

As I said in my OP, the only thing I signed were the instructions to the EA, and on that was a tick box which said whether you were providing your own, or going through the one they supplied. I'm pretty certain I didn't sign anything separate. Its probably gonna be one of those things where I won't know until I ask.:think:

bridgendgirl

Hi there,

I think by ticking the box telling the ea you want a hip would be enough for them to demand payment. The ea or Hip provider has already actioned the searches and probably have paid for them and to be honest why shoulf they be out of pocket?

If I was you I think I would put it down to experience and know next time to shop around. I am a hip provider and always tell prospective clients to shop around and then when they place an order they sign a document agreeing to it.

I usually ask for payment up front as I have been stung by people who have changed their minds about selling their property and have been left with search fees.

Sorry if this sounds a bit harsh but it really was up to you to shop around before agreeing to buy something.