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If HIPs "in place" - are searches still necessary

whitesatin
whitesatin Posts: 2,102
Part of the Furniture 1,000 Posts
Forumite
in House buying, renting & selling
I know things have changed re HIPs but my query is, we had one done in January, our purchasers probably had one done too and they are selling to FTBs. The old searches that used to take the time when buying and selling, does this mean that they have already been done and that the whole thing might take a bit less time?

Comments

  • Richard_Webster
    Richard_Webster Posts: 7,646
    Part of the Furniture 1,000 Posts Combo Breaker
    Forumite
    Ther might be some time and cost saving but the January searches will be out of date soon and will have to be protected by search validation insurance (fairly cheap).

    Most searches in in HIPs are private ones and some lenders and some solicitors don't like them and so want to repeat them in any event.
    RICHARD WEBSTER

    As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.
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