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HIPs, how long do they last?
will-he-payitoff
Posts: 816 Forumite
Iam going to sell my house which I bought 2 yrs ago. The previous vendors had a hip done which I have still got. Do I need to pay for a new one? I havnt carried out any changes to the house. TIA.
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Comments
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Hi I noticed your post about home information packs. The h.i.p includes a survey report which includes a property valuation, so I would think the old h.i.p. would not be relevant as there would be a different valuation so a new report would be necessary. shrewdal0
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There is no valuation report in a HIP but that's by the by.
A new HIP has to be commissioned by each owner. You cannot use any documents dated before you owned the property.Everything that is supposed to be in heaven is already here on earth.
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For what it's worth, I think that they can partially expire after after just 3 months - even if there has been no substantial change at all. Have a look at the Q&A section at the end of the hipassociation 'consumers' web page.
(Can't post the exact link 'cos I'm an elderly newbie, it seems!)0 -
Yes you will need a new Hip because you are a different seller, so some of the documents, like title, will be incorrect, also because the property has not been continually marketed the Hip would have expired at 12 months old.0
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For what it's worth, I think that they can partially expire after after just 3 months - even if there has been no substantial change at all. Have a look at the Q&A section at the end of the hipassociation 'consumers' web page.
(Can't post the exact link 'cos I'm an elderly newbie, it seems!)
They don't 'partially expire', they just get older! After 3 months they are just as legally valid as after 1 month, but the information is by definition older and less reliable. A buyer's solicitor may (should!) advise the buyer to get updated searches. That doesn't make the HIP 'invalid' or 'expired' (partially or otherwise).
That's by the by. You need a new HIP as you are a new seller.
Read the gov info here.0 -
OP - you must carry out your own, however you can use the EPC as that can be used for 3 years once done.
Most law firms would knock off £45 for the epc having been done, if you are inclined to use a local firm, as you might for your eventual conveyancing.My posts are just my opinions and are not offered as legal advice - though I consider them darn fine opinions none the less.:cool2:
My bad spelling...well I rush type these opinions on my own time, so sorry, but they are free.:o0 -
Apparently if the tories win the election hips will be scrapped.I came in to this world with nothing and I've still got most of it left. :rolleyes:0
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bo_drinker wrote: »Apparently if the tories win the election hips will be scrapped.
:T :T :T :T :T :T :T :T
(scrapping hips rather than the Tories winning.....)0 -
:jbo_drinker wrote: »Apparently if the tories win the election hips will be scrapped.
Yes but not the EPCs as it is an European requirement.
:mad:
N.
Never be afraid to take a profit.
Keep breathing. :eek:
Just because I am surrounded by FOOLS does not make me wise. :j0 -
The HIP regs allow it to be abolished instantly, but I suspect it wont happen instantly (too much VAT being generated for the Government), and the Law Society are working on 'Transaction Plus'.My posts are just my opinions and are not offered as legal advice - though I consider them darn fine opinions none the less.:cool2:
My bad spelling...well I rush type these opinions on my own time, so sorry, but they are free.:o0
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