help hip nightmare!!

lancashire_carrie

Hello all,

I am a first time seller of a 2 bed mid terrence house, which has been on market since april. My estate agents have only just taken interior photos last week, my external photo has more of my car than the house in and i think they have over valued it (at 60k)as i have had no viewers at all. I am now at a stage where i am walking away from my estate agent but am left with £500 hip to pay as i have not actually physical got my hip is there any way out of it????

any advice would be gratefully taken
*lancs carrie*

Emmzi

what does the contract with your EA say?

lancashire_carrie

hi
looking at contract nothing mentions hip only their fees and conveyancing thats it dont think it would go other conveyancing otherwise it would state it i would of thought?

DVardysShadow

If you pay for the HIP, it is yours. Discuss with Agent how they are going to give it to you for your £500. Don't accept a 3rd generation photocopy either.

Richard_Webster

I think you should get a PDF or the link to a website with the HIP on it should remain.

I put my client's HIPs on my "HIP" website. In the unlikely event that they don't use me to do the conveyancing, the HIP stays up there until I know the sale has been completed. It is the client's HIP so they are entitled to be able to produce it. They can give the link to estate agents and any new solicitors.

natters_2

It sounds like you have a deferred HIP - we have done the same, it will be a seperate contract to the EA fees - ours states the HIP is to be paid for either when the house sells or after 9 months whichever is sooner and the HIP does not belong to us until it is paid for so cannot be transferred to another EA

DVardysShadow

natters wrote: »

It sounds like you have a deferred HIP - we have done the same, it will be a seperate contract to the EA fees - ours states the HIP is to be paid for either when the house sells or after 9 months whichever is sooner and the HIP does not belong to us until it is paid for so cannot be transferred to another EA

As it has to be paid for at 9 months, there is no walking away. Once it is paid for, it should be transferable.

There may be a clause which prevents it being transferable, but if you have a copy, you could consider a DIY HIP - not copying, but collecting the same content.

Richard_Webster

That's the problem with "free" HIPs offered by estate agents - they are only free if the property is eventually sold by them and you pay their normal agency commission. If you pay for them upfront they are yours and you can take them with you. Otherwise you have to find the money if you change agents. That is why it is best not to use the estate agents to do the HIP.

I have a client at the moment for whom I have prepared a HIP. Because of his particular situation and the mortgage lender that he proposes to use on his onward purchase it may not be best for him to use me to do the conveyancing. If he does go to another solicitor, as he has paid for the HIP, it will stay up on my website until he has sold.