HIPs - home information packs

thesaint

I have looked at the links, but I found the following on the proper website, definitely no mention of pubs:

What sanctions will be in place for agents who market a property without a Home Information Pack, or those who make insufficient effort to obtain the data within the 14-day period?Trading Standards Officers are responsible for enforcement and will have a number of options. These range between providing help and guidance, to the serving of a £200 penalty charge notice which can be repeated for ongoing non-compliance. Where an estate agent is served with a penalty charge notice, the matter must also be referred to the Office of Fair Trading for possible action under the Estate Agents Act.

doublemochamama

Please Martin - can you give us the low down - how can we get HIPs a bit cheaper? It's looking between £600-£1000 so far!

Is there a do-it-yourself helper out there?

cheers

lynzpower

2. You, or your agent, will be a law-breaker liable to a daily fine of £200/500 if caught trying to sell your home without a Pack, or for the first 14 days if your Pack is ordered but hasn't arrived (this means no advert, no board, no flyers not even a chat in the pub).

Im broiadly in favour of hips in principle. Its the local authority bit that bothers me overly I cant see it ever beeing quick enough for the vendor.

This bit about "not even a chat in the pub" bothers me. One thing even kirsty & phil say constantly "make freind with your agent" and phil constantly gets tip offs aqbout stuff "not on the market yet" Will this mean the end of the sexy bonus "finds" at the end of location location

BobProperty

See my other recent post about HIPs where I said I have been told that none of the trial areas have got their LA searches back within the allotted 2 weeks.

Also, in reply to Lynz, I said months back on a HIPs thread, that they risk creating a "coming onto the market soon" category of property that EAs will mention to their "friends" but not everyone.

One other thought. Trading Standards Officers current stand round in their thousands doing nothing just waiting for EAs to advertise properties without HIPs in July :rolleyes:

thesaint

doublemochamama wrote: »

Please Martin - can you give us the low down - how can we get HIPs a bit cheaper? It's looking between £600-£1000 so far!

Is there a do-it-yourself helper out there?

cheers

You can do it yourself, but you still have to get the Energy efficiency part done.

sukey13

Does this mean you can still buy and sell privately without getting this dumb HIPs thing?

Is it just for people who buy and sell through "estate agents"?

lynzpower

Also, in reply to Lynz, I said months back on a HIPs thread, that they risk creating a "coming onto the market soon" category of property that EAs will mention to their "friends" but not everyone.

Exactly.

We know of properties coming onto the market ( maybe the vendor wants to wait until the final touches are done, we do all the particulars, then wait until vendor gives us the green light to put on) in this time we phone around buyers who are actively wanting properties on eg X estate to find out a) are they still looking b) would they be interested in taking a viewing when it comes on the market? and provisionally booking in appointments for the said days.

Does anyone think we could have a similar conversation with prospective buyers saying eg "A flat is coming on the market in the areas you like ( not saying rd for example) we are awaiting the Hips pack completion over the next few days, are you still looking?" or do you reckon that will be banned too?


Suki, I think private sellers will also be liable ( if you or your agent).

Id love to know how on earth trading standards are going to cope with this I certainly cant see them sat about trawling little house co, loot etc to say "scuse me can I see your Hip?"

nelly_2

If theres two houses on a street for sale one has a hips, and one you have to pay for a survey yourself. Which one would you go for?

One is easier to buy and less potential agro and no potential of losing the cost of having a survey done if it falls through.

Trying to sneak a house on the market before the deadline isnt necassarily gonna be a good move is it?

thesaint

The thing is nelly the HIP's do not contain a survey, and if they did, the lender you were using would not pay any attention to it.

lynzpower

i think the good thing for the market is that if all the searches are back on the property before it goes on the market, basically the only thing that there will need to be done is the survey and getting the mortgage offer back.
Solicitors wil no longer be awaiting various reports., bits of paper, preassignment packs and so forth. SOlicitors will in terms of the sale, have everything infront of them aside from the mortgage offer.

As I understand it, I see a flat, I can look at the searches etc immieduiately & decide will I make an offer? it means those sales of homes by a proposed dual carriageway or on reclaimed sites I can make a deicision striaght away- not pull out of the sale later on down the line

then I make an offer, survey then the mortgage offer comes through and surely then its just a case of exchangeing contracts with a completion date in mind? Nothing else is there?

Id imagine then we could be looking at the actual SALE being rather quick compared to how it is now? I would imagine you could look to exchange being done in around a month? Wouldnt it?