HIP - Who pays?

santacruz_2

Our offer has been accepted on a house which is part of a deceased estate.
The property has a HIP but the estate agent thinks its out of date. I'm unsure as to who pays for a new HIP?

princessamy86

It's not a whole new HIP that needs paying for, the searches just need refreshing. As a general rule, the buyer foots the bill for this but it's certainly worth asking if the vendor will pay.

G_M

If the agent is right & the HIP is out of date, then the agent, and the vendor, are both breaking the law by marketing the property.

The vendor would have to pay for a new HIP.

As the princess says, it's more likely the HIP is in date but some searches are old (the point at which they become ' out of date' is subjective).

This is a matter for your solicitor. If he is satisfied with the searches in the HIP, fine, if he recommends getting them updated - you pay. It's really nothing to do with the EA.

edit - sorry 'privess' - finger trouble!

princessamy86

Privess? Love it what's that??

santacruz_2

I see, my partner has yet to choose a solicitor..although i think he's appointing one today after being recommended by friends.

Thanks for the info!

G_M

Take a look at conveyancing advice here

delmar39

Legally a HIP remains valid for as long as the property remains on the Market.
The completed Home Information Pack or HIP remains valid provided;

• the property is still being marketed 1 year after it was first up for sale (you may take your house off the market as many times as you like within the first year)
• The property is continuously marketed after the 1st year of marketing has elapsed.
• If you have a failed sale occurring more than 1 year after marketing commenced you must put your property back on the market within 28 days

There is no obligation on you or the person or agency marketing the property to keep the information up to date (however it may be in their interests to do so).

In practice the validity is determined by the date of the searches. It is unlikely that a Mortgage lender or Solicitor will accept searches in a HIP which are more than 6 months old. The Energy Performance Certificate is currently valid for 3 years, although this is under review by the Government.

G_M

It is unlikely that a Mortgage lender or Solicitor will accept searches in a HIP which are more than 6 months old.

True. But most will consider 3 months too old.