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EA Fees & Hip - When can we start marketing
sequin123
Posts: 66 Forumite
Hi
I would be grateful for your advice
We have invited 3 EA's in to value our property (2 bed Semi) all within the same range however have managed to negotiate fees
EA1 = 0.75%
EA2 = 0.50% - as wants to beat other EA's
EA3 = coming this afternoon
Without sounding arrogant we have a good property in a sought after area that dont come up very often so hope to generate interest fairly quickly.
They are all reputable agents and am obviously inclined to go with EA2 (I doubt EA3 will go any lower) however one thing that EA2 said about HIPS was that we can start marketing as soon as the application has been made for the HIP and he had consulted numerous solicitors on this. I thought you had to wait until you at least had the mini hip before you could go on the market. I am just worried in case we get fined and also that the EA whilst the cheapest is not giving us the correct advice.
thanks for your help
I would be grateful for your advice
We have invited 3 EA's in to value our property (2 bed Semi) all within the same range however have managed to negotiate fees
EA1 = 0.75%
EA2 = 0.50% - as wants to beat other EA's
EA3 = coming this afternoon
Without sounding arrogant we have a good property in a sought after area that dont come up very often so hope to generate interest fairly quickly.
They are all reputable agents and am obviously inclined to go with EA2 (I doubt EA3 will go any lower) however one thing that EA2 said about HIPS was that we can start marketing as soon as the application has been made for the HIP and he had consulted numerous solicitors on this. I thought you had to wait until you at least had the mini hip before you could go on the market. I am just worried in case we get fined and also that the EA whilst the cheapest is not giving us the correct advice.
thanks for your help
0
Comments
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You have to wait for the mini HIP to be available before any marketing can commence. The full HIP has to be available within 28 days.
The EA is talking rubbish!
ETA......it will be the EA that gets fined and not you, however, I wouldn't trust that he actually knows what he is doing if he gives you misinformation about the HIP!My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
Agreed - you have to wait for the HIP to be 'complete for Marketing Purposes'. Also I think you get some leeway on the 28 days for some of the searches if they've been applied for & the only hold-up is that the Local Authority is being slow.
I think it USED to be HIP applied for & the rules changed?0 -
scooter_chick wrote: »Agreed - you have to wait for the HIP to be 'complete for Marketing Purposes'. Also I think you get some leeway on the 28 days for some of the searches if they've been applied for & the only hold-up is that the Local Authority is being slow.
I think it USED to be HIP applied for & the rules changed?[/QUOTE]
Correct, although it changed several months agoMy home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
Hi
Thanks for your advice, really useful. Decided against the 0.50% EA as dont think its professional to give out incorrect info. Went for the 0.75% fee as whilst higher (but still think a good %) felt they would not only sell the house but would provide better follow up.
Thanks again0
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