D.I.Y HIPS - in today's Guardian 07/04/07

Catseyez

Hi,

On page 3 of the Money supplement in today's Guardian (Sat 07 April), there is an article on how to do a DIY HIP and save yourself hundreds of pounds.

And here's the link, kindly provided by Optimist:

http://money.guardian.co.uk/property...051740,00.html

Catseyez

Optimist

Here you go

Patrick Collinson
Saturday April 7, 2007
The Guardian

Home information packs become law on June 1, but there is no obligation on sellers to buy a pack from an estate agent or a solicitor. You can produce your own and save hundreds of pounds.

The law says that the person marketing a property, be it an estate agent or the owner, must have a copy of the pack in their possession while the property is on the market, and must give a copy to potential buyers within 14 days of a request.

The main unavoidable cost is the energy performance certificate, which must be carried out by a qualified inspector and will cost at least £100.

The Land Registry (landregistry.gov.uk) will supply evidence of title for £6 and the title plan, again £6. After that, costs vary according to each local authority.

The Department of Communities and Local Government says the searches that the pack must include are the local land charges register (form LLC1) and the answers to "local enquiries". This looks superficially cheap - often just £10-£15. But the sting is form con29, which the local authority will compile for you at a cost of £150 or more. Some councils (such as the London borough of Barnet) charge as much as £288.

One way around this is to employ a specialist company to carry out the work. There are several of these available over the internet, with prices starting at around £70.

The option of doing it entirely by yourself at the council offices appears to have been barred by the DCLG. It says: "People can put 'personal searches' in the pack containing this information, provided that the searches and the people providing them comply with the regulations. Personal searches are carried out by specialist companies who do this work and not by the seller himself."

A drainage and water search is also required. Contact your local water company for costs. As an example, Thames Water charges £44.18 for a residential search, delivered within three days.

Altogether, a DIY pack is therefore going to cost at least £225 - half as much as a commercially-produced Hip.

http://money.guardian.co.uk/property/story/0,,2051740,00.html

Catseyez

Cheers Optimist, I was hoping somebody would come along and do that!

tickeverybox.com

Another article to warn consumers on the cost consequences can be found at:

http://www.ukprwire.com/Detailed/Real_Estate/Shop_around_for_your_Home_Information_Pack_5497.shtml

If you don't fancy DIY there are cheaper options than the usual estate agent route.

MortgageMamma

The mortgage network I work for are offering free mini hips to our clients at the moment.

The network have done it to present a profesional and cutting edge image and also to give our purchasers the optimum chance of selling their property - lets face it, as a buyer now who would not be impressed if they were handed a mini hip by the seller especially since they are not yet mandatory?

courtjester

Try googling for "free home information pack" for other sources