Exchange ready HIP

mose_2

Can someone please explain the difference between the exchange ready HIP and the normal one? Have been quoted £350 for exchange ready HIP by EA does this sound resonable?

Thanks

david29dpo

I have never come across this. There is only one type of HIP. The only thing i can think of is a "normal" HIP is done an the beginning of a sale so may be quite old when the house is sold. This will mean the searches may need updating by the buyer solicitor. An "exchange ready" HIP may mean the searches are fairy new. Either way the agent is a fibber and £350 is a lot. Aim for £250 max.

mose_2

Thanks. There is supposed to be less time wasted between offer and exchange as some more of the legal stuff is done upfront. Not sure if it's worth the extra cost? how much is a standard HIP? and has anyone any recomendations?

Thanks

david29dpo

No legal stuff is ever done upfront. I cant understand what this agent is on about and there certainly should not be two HIP prices. I do think this agent is taking the !!!!.

mose_2

Ok thanks, having looked up about these they do seem to be becoming more popular. If you google 'exchangeready hips' you will get some results. the company they use is called 'simplyhip'

david29dpo

I see now. A seller has always been able to include extra documents to the HIP if they wish, known as authorised documents. Things like a home condition report, certificates for double glazing etc. This is suppose to help the buyer and save time. If you have any documents like this then yes, put them in the HIP. However, I really wouldn't bother. Not many buyers even look at the HIP and there solicitor may not either! Go for the cheapest standard HIP you can find.