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HIPs Clarification
Evee2000
Posts: 217 Forumite
For those of you who currently have a property for sale which was marketed prior to the HIPs requirements dates of 1st August (4 bed and above) or 10th September (3 bed), the following may be of some use to you.
You WILL NOT require to have in place a Home Information Pack by 1st January 2008. The Government has NOT set a date for these properties to comply with the new HIPs regs. If you are being told otherwise by your estate agent - THEY ARE WRONG!!!!:mad:
Of course, it would suit me better if this was not the case ( I am a Domestic Energy Assessor) - however, I hate to read mis information and of unnecessary expense, hence this posting.
Further confirmation can be found on the Governments own Home Information Pack website located here :
http://www.homeinformationpacks.gov....questions.html
which says:
What do I do if my house was on the market before the 1 August?
Properties that are genuinely on the market before the commencement date (i.e. 1 August for sales of homes with four or more bedrooms) will not need a Pack. This exemption will apply for as long as marketing continues but the Government may appoint a date at which all properties on the market will be subject to the HIP duties, regardless of when they were first marketed.
Alternatively, please ring Communities and Local Government: 020 7944 4400 (ask for HIPs dept). These guys laid the regs and will be happy to confirm that the above is correct.
Any advice needed please PM me.
You WILL NOT require to have in place a Home Information Pack by 1st January 2008. The Government has NOT set a date for these properties to comply with the new HIPs regs. If you are being told otherwise by your estate agent - THEY ARE WRONG!!!!:mad:
Of course, it would suit me better if this was not the case ( I am a Domestic Energy Assessor) - however, I hate to read mis information and of unnecessary expense, hence this posting.
Further confirmation can be found on the Governments own Home Information Pack website located here :
http://www.homeinformationpacks.gov....questions.html
which says:
What do I do if my house was on the market before the 1 August?
Properties that are genuinely on the market before the commencement date (i.e. 1 August for sales of homes with four or more bedrooms) will not need a Pack. This exemption will apply for as long as marketing continues but the Government may appoint a date at which all properties on the market will be subject to the HIP duties, regardless of when they were first marketed.
Alternatively, please ring Communities and Local Government: 020 7944 4400 (ask for HIPs dept). These guys laid the regs and will be happy to confirm that the above is correct.
Any advice needed please PM me.
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Comments
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Talking of "mis information" i refer back to your previous post
http://forums.moneysavingexpert.com/showthread.html?t=572744
Please clarify how a Home Condition Report can be a "worthwhile optional exra" to the Vendor? It's not for their benefit and it is useless to a potential purchaser who would still have to have their own survey done anyway!My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
MissMotivation wrote: »Talking of "mis information" i refer back to your previous post
http://forums.moneysavingexpert.com/showthread.html?t=572744
Please clarify how a Home Condition Report can be a "worthwhile optional exra" to the Vendor? It's not for their benefit and it is useless to a potential purchaser who would still have to have their own survey done anyway!
Sure. (although slightly sabotaging my original posting above) We've had great response from the Home Condition reports up here in the North East - where we were part of the 'dry run' last year/early this year. The report provides a detailed overview of the condition of the property and is a legally recognised document. It will tell you about the construction and condition of the home on the date it was inspected, about any defects that need urgent attention or are serious. It also tells you about things that need further investigation to prevent damage to the structure of the building. The report gives ‘condition ratings’ to the major parts of the main building. It will also include an energy performance certificate.
For serious sellers, it makes sense to reduce the risk of delays, last minute withdrawal, or attempts to re-negotiate the price, due to factors arising out of the condition of the property.
By providing this Report upfront, it will not only give sellers a competitive advantage but will ensure buyers have the confidence to commit to the property immediately an offer is put in, with the offer already reflecting the property’s condition – something they are unable to do if they still have to wait for a survey to be completed.
This means that the time taken to complete a sale should be reduced, as the legal documents will already be in the Home Information Pack. Inclusion of the Home Condition Report will ensure that the buyer is not faced with nasty surprises later in the buying process, which could threaten the sale.
Actually, its very comprehensive document - and its a fraction of the price of a Home Buyers survey (average £250). This is NOT a mandatory report for the HIP - but again I would say it was a worthwhile consideration.
I hope this is of some use to you - feel free to PM for advice.0 -
What complete bollards from someone with a vested interest!
Weren't they done free then?Sure. (although slightly sabotaging my original posting above) We've had great response from the Home Condition reports up here in the North East - where we were part of the 'dry run' last year/early this year.
1. Paid for by the vendor so no chance of any bias there.The report provides a detailed overview of the condition of the property and is a legally recognised document. It will tell you about the construction and condition of the home on the date it was inspected, about any defects that need urgent attention or are serious. It also tells you about things that need further investigation to prevent damage to the structure of the building. The report gives ‘condition ratings’ to the major parts of the main building. It will also include an energy performance certificate.
2. Done by someone who's been on a 6 month training course and probably has no background in construction.For serious sellers, it makes sense to reduce the risk of delays, last minute withdrawal, or attempts to re-negotiate the price, due to factors arising out of the condition of the property.
How? I'll bet I can find something wrong with a property that a HIP inspector has missed, so more delays, lower offer, p-d off seller because the HIP missed it, etc.
By providing this Report upfront, it will not only give sellers a competitive advantage but will ensure buyers have the confidence to commit to the property immediately an offer is put in, with the offer already reflecting the property’s condition – something they are unable to do if they still have to wait for a survey to be completed.
And it will have cost the seller. How fast does it go out of date? How slow are the surveyors round your way? I reckon I could instruct one and get a report done in days.
This means that the time taken to complete a sale should be reduced, as the legal documents will already be in the Home Information Pack. Inclusion of the Home Condition Report will ensure that the buyer is not faced with nasty surprises later in the buying process, which could threaten the sale.
The overall time doesn't change. You just get some documents at a different time.
Because the person doing it has a fraction of the knowledge of a surveyor?Actually, its very comprehensive document - and its a fraction of the price of a Home Buyers survey (average £250).
Have you got professional indemnity insurance against making mistakes in these reports? If so how much is it costing?A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Thanks Bob - actually, I can't undertake HCRs - so no vested interest. I was asked the question and did my best to explain.
Yes, HCRs were free during the dry run, however I know of a number of inspectors who had repeat paid work because of the quality and perceived benefit of the report.
Point 1 - I take your point, but would imagine that this would not be a worthwhile scenario as they would soon be found out and struck off from their accreditation body.
Point 2 - 6 months training course - nope at least a year. Bit of a mass generalisation on the second bit?
The HCR will be in date as long as the property remains in the current condition - if the property had been marketed for a long time after the initial HCR then the purchaser should enquire if any major works had been undertaken (similar to a HBS). I would imagine with your experience that you would also find something missing on the HBS too? It would be very easy to find an inspector and have the report with you within days.
I would disagree with regard to time not being a factor. Having an EPC/HIP or HCR up front in advance which includes all searches/title/leasehold details will certainly provide a more transparent process to any potential purchaser. By providing this information up front, there is no time wasted on waiting on searches to come back, lost title deeds etc.
All DEAs and HIs must have Professional Indemnity Insurance and Public Limited Liability in place before they can operate. This would also nullify the inspectors accreditation. The PII in my case is £100k and the PLL is £3m.
I hope this is of some use. Feel free to PM for any advice.0 -
But how easy would that be? It would be one thing to suspect it and a completely different job to prove it.Point 1 - I take your point, but would imagine that this would not be a worthwhile scenario as they would soon be found out and struck off from their accreditation body.
As opposed to 6 years (is it?) for a chartered surveyor. Prove me otherwise on the "generalisation".Point 2 - 6 months training course - nope at least a year. Bit of a mass generalisation on the second bit?
So about as good as an MOT then....The HCR will be in date as long as the property remains in the current condition
Actually yes but then I'm paying the surveyor for a second opinion, his allegiance is to me. Equally if I was selling I wouldn't want to be wasting my money but the government now says I have to.- if the property had been marketed for a long time after the initial HCR then the purchaser should enquire if any major works had been undertaken (similar to a HBS). I would imagine with your experience that you would also find something missing on the HBS too? It would be very easy to find an inspector and have the report with you within days.
A lot of people can't see this fault with HIPs. From the moment the vendor decides to sell to the point of exchange of contract or completion, tell me where the time is saved.I would disagree with regard to time not being a factor. Having an EPC/HIP or HCR up front in advance which includes all searches/title/leasehold details will certainly provide a more transparent process to any potential purchaser. By providing this information up front, there is no time wasted on waiting on searches to come back, lost title deeds etc.
But you can't do HCRs. How much would it cost if you did?All DEAs and HIs must have Professional Indemnity Insurance and Public Limited Liability in place before they can operate. This would also nullify the inspectors accreditation. The PII in my case is £100k and the PLL is £3m.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Thanks for the heads up Evee, I'm not a fan of HIPs or HCRs but appreciate your standpoint.0
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Thanks Ben.
Bob - I've done my best here and given as much info as I possibly can. There is no more that I can say - you take it or leave it (I think I can guess which you will choose!).
Regardless of the 'reception' I've received by a few on this forum, I would like to think that I have contributed in some positive way. Its a sensitive subject and I understand the 'vinegar'. Still, for any of you out there who would like an informed response or advice re HIPs/EPCs/HCRs feel free to pm me. I'm not a crook or charlatan and I won't try to sell you anything - honest!0 -
Just wanted to add, well to get off my chest really, that the EPC is the biggest waste of time, energy and money I have ever seen. HIP's have been in place now...what....just over two months and I have not had a single prospective purchase ask to see a copy on any of the properties I am marketing.
The EPC could be done by a monkey with a degree of intelligence, in fact I don't think i've seen one yet that was above a "D" grade.
Not one person I have spoken to, either Vendor or Purchaser, is in the slightest bit interested what "grade" a property is. But what really get's my goat is people coming on here "praising" the benefits of an EPC and then saying it's in the Vendors best interests to get a HCR done!! Obviously they have never sold, bought or had any dealings in property!
Phew.....rant over.....feel better now :mad:My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
But will a lender accept a HCR done on behalf of a vendor?0
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Again, thank you for the warm welcome. I'm glad you feel better now.
FWIW I actually said 'A Home Condition Report is an optional extra, very worthwhile and equally as good as a Home Buyers Survey'.
Happy to provide any advice with regard to this complex and often mis quoted subject. Please PM me.0
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