urgent HIPS advice please!!

worrypants

We have had one viewing on our property in 8 weeks and that was a buyer with a top budget of £25000 less than our already reduced property is up for sale for ( on at £163950 )
the agent has not kept in touch with only one phone call in 8 weeks , to send the hopeless viewer round!!!!:mad:

contacted another agent today as going to bin existing agent at end of the 12 week lock in so we can go smoothly to the new agent with no break.
New agent has just told me we have to have a HIPS as its classed as a new property on the market

Can anyone advise on this please? it was my understanding that any home on the market before August 1st does not need a HIPS? my property will have continously been on the market with no break for over 12 weeks when we change agents?
can anyone give me a pointer to a legal website on HIPS that i can quote to the new EA? have extensively searched myslef and cant find anything other than HIPS providers?
Many Thanks

dolce_vita

You will not need a HIP.

See this website

lynzpower

exactly the same link I was going to give.

Obviously whomever that EA is using for hips has poorly informed the EA - and they are giving out half-coc ed advice to you.

Not good enough. :wall:

worrypants

much appreciated seems all the EA's in this area are clueless

many thanks

lynzpower

Actually worry pants

Ive just had an email from the CLG that says

If the property is marketed continuously from before the commencement date (1 August for properties with 4 bedrooms or more),then a HIP is not required. However, a HIP is required for such properties if there is a break in marketing which results in the property being put back on the market on or after 1 August (for example, a break in marketing might occur by switching agents). If the reason there is a break in marketing is because a sale has fallen through - provided that the property is placed back on the market within 28 days - a HIP is not required.

so, given you are switchin agents, it looks like you DO in fact need a hip.

tmm_aka_tracy

Could you market your property with two agents for the period of say a week? Where my boyfriend lives, loads of houses have two EA for sale signs. If the new agent markets at the side of the old one, then the old one i fired off, would this be okay? (My house has just gone on the market so I could be in the same position at some point in the future).

worrypants

many thanks lynz all a bit confusing still?

I dont intend for there to be any break though as my plan is to leave one agent on Sept 4th and be up with new agent on sept 5th( will get all pics done contract sighned etc with new agent prior to sept 5th)

Having said all this the price of the HIP is £299 and I feel it might just be a novelty plus point for a potential buyer to be the first property in the area to have one.
It will also appear to a buyer that this is a brand new property on the market, well you never know :rotfl:

lynzpower

worrypants wrote: »

many thanks lynz all a bit confusing still?

I dont intend for there to be any break though as my plan is to leave one agent on Sept 4th and be up with new agent on sept 5th( will get all pics done contract sighned etc with new agent prior to sept 5th)

Having said all this the price of the HIP is £299 and I feel it might just be a novelty plus point for a potential buyer to be the first property in the area to have one.
It will also appear to a buyer that this is a brand new property on the market, well you never know :rotfl:

Do you know thats quite a good point there, I agree, I think it will APPEAR newer on the market than it is.

How long have you been on for now worrypants, I do remember your original thread, but did you post your RM link, is there any improvements you could make to shore up interest?

steb4life

tmm_aka_tracy wrote: »

Could you market your property with two agents for the period of say a week? Where my boyfriend lives, loads of houses have two EA for sale signs. If the new agent markets at the side of the old one, then the old one i fired off, would this be okay? (My house has just gone on the market so I could be in the same position at some point in the future).

You can but you need to be aware of what kind of contract that you are signing (Sole Selling Rights, Sole Agency etc). For example the following situation could arise. A viewing is arranged by one EA, the buyers go away and mull it over for a couple of weeks (price may be too high) then you fire off that EA and they then come back and want a second viewing so they contact the original EA but they have to tell them that you're no longer marketing the property anymore with them. Buyer then looks for it on Rightmove and finds new advert. Who introduced the sale if they make an offer? You may find they both claim they did and want commission.

Secondly you will initially agree a period for the contract with the EA and that usually will have a notice period. EVEN after the period of sole selling in the contract ends (i.e. 12 weeks) the contract will continue until you give notice! So if that's 14 days that's 14 days from the day you cancel it. If anyone is waiting to the run out date of their contracts so they can change EAs, cancel so that you incorporate the notice period in your sole selling period. It can delay your transfer to another agency and their ability to then market your property.

worrypants

thanks lynz heres the link again

http://www.rightmove.co.uk/action/ViewProperty?p_id=15804167&via_search=false&inv_override=true

property only 5 months old only non neutral is the red carpet and the wallpaper in dining room otheriwise cant think of anything to improve

its not that we have had no offers we are not getting any viewings we have allready dropped from £169950 and it is very very competitiively priced for the area

dont know if its s****e agents or just very very very slow market

i truely believe that dropping the price even further will still not make any difference

Melissa177

How big is the house? I thought you only needed a HIP for four beds or more?