When to Buy HIP

xtra_time

Hi, I am getting valuations from estate agents this week. Is it worth ordering a HIP online (eg hips4u) so that when I decide who to go with this will nearly be ready or would you suggest waiting until I have decided on the estate agent I would be going with.

Thanks

billyboy11

You have to have the Hip in place for when you market your property, so i was told a couple of months ago wheni started selling mine..

I rang Hips4u and they came out and did the survey the following day,, then within a couple of days, the part of the hip which says your property is now marketable came through by email..

Start to finish, it took 4 weeks, but this was down to search delays, but apparently these delays have now been rectified,,

Value for money i thought they was excellent.

loftysgirls

I signed with an agent two weeks ago. The agent are funding the HIP pack (I do not have to pay at any point) and were very competitive with fees. It took exactly one week before the property could be marketed. It may be worth waiting.

Philippa36

We booked ours after deciding on an estate agent and its taking ages to finish. You have to have a completed HIP before the property can be marketed.

The estate agent recommended someone but they were more expensive than the person we found online. We could have paid half up front with the estate agent and then the rest in 6 months, but it didn't seem worth while.

If you can get a good deal from your estate agent, then great, otherwise I'd start shopping around and see if how much its likely to cost elsewhere.

ZIPPYtheBUDGIE

I opted to defer my HIP pack payment until my house is sold. The agent contacted me after my house had been on the market for several weeks to tell me off for not getting a HIP pack yet. They told me they would not market my property until I did. I have now started the ball rolling with the pack and had someone round to assess my house. I don't think I should have bothered really because so far I have had NO viewers at all but my house details have been in the estate agents window the whole time. The HIP pack expires after 9 months I think so then I'll have to pay to have another one done, hence why I'm regretting getting it if nobody even wants to come and look at my house
I thought I'd sell it really quick as it's a FTB sized property in a good area and is very well appointed. It's awkward as I'm still living there with my ex-fiance so we both want to move on...that really gets me down as much as shelling out twice (maybe) for a naff HIP pack that nobody's really interested in anyway!!!

princessamy86

ZIPPYtheBUDGIE wrote: »

I opted to defer my HIP pack payment until my house is sold. The agent contacted me after my house had been on the market for several weeks to tell me off for not getting a HIP pack yet. They told me they would not market my property until I did. I have now started the ball rolling with the pack and had someone round to assess my house. I don't think I should have bothered really because so far I have had NO viewers at all but my house details have been in the estate agents window the whole time. The HIP pack expires after 9 months I think so then I'll have to pay to have another one done, hence why I'm regretting getting it if nobody even wants to come and look at my house
I thought I'd sell it really quick as it's a FTB sized property in a good area and is very well appointed. It's awkward as I'm still living there with my ex-fiance so we both want to move on...that really gets me down as much as shelling out twice (maybe) for a naff HIP pack that nobody's really interested in anyway!!!

Even if you defer the payment, they need to produce your HIP. You are essentially entering into a credit agreement with the HIP providers to allow you to defer your payment for this time. If no HIP has been done, then both you and the agents could get in trouble. That's the law I'm afraid!

princessamy86

Philippa36 wrote: »

We booked ours after deciding on an estate agent and its taking ages to finish. You have to have a completed HIP before the property can be marketed.

The estate agent recommended someone but they were more expensive than the person we found online. We could have paid half up front with the estate agent and then the rest in 6 months, but it didn't seem worth while.

If you can get a good deal from your estate agent, then great, otherwise I'd start shopping around and see if how much its likely to cost elsewhere.

Definitely ask the agents, some of them will produce a free HIP or be able to get you a competitive deal. Our HIPs turnaround is normally between 3 and 5 days, unless there is a backlog for whatever reason. If you're confident that the hips4u price is a good one then by all means buy it, it will be quicker for you to put your house on the market if you're in a rush. If you're not, what difference does a week make?

xtra_time

I have had my valuations and it seems hips4u is about £100 cheaper but i wonder if the estate agent will be as eager to sell the house if you dont use them - decisions decisions!

cangra

I had my HIP sorted out by my solicitor and was given a link to go on-line and print it. They worked out cheaper than estate agents' recommendations. They deducted the cost from the proceeds of the sale so I didn't have to part with any money beforehand!

HellsGranny

HIPS are competitive right now, some Estate Agents are offering them at £99 or less. Shop around.

Evee2000

Philippa36 wrote: »

We booked ours after deciding on an estate agent and its taking ages to finish. You have to have a completed HIP before the property can be marketed.

The estate agent recommended someone but they were more expensive than the person we found online. We could have paid half up front with the estate agent and then the rest in 6 months, but it didn't seem worth while.

If you can get a good deal from your estate agent, then great, otherwise I'd start shopping around and see if how much its likely to cost elsewhere.

Sorry, this is incorrect. You must have a 'basic HIP' in place before you can market. The basic HIP comprises of the Index, PIQ, EPC, Sale Statement and title documentation. All of this documentation can be produced in one day if necessary and your property can be marketed as soon as this 'basic HIP' is available. Any delay in receiving the local authority/water searches will not delay the marketing of the property.