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HIP's? Whats the deal?

gerturdeanna
gerturdeanna Posts: 4,350 Forumite
Part of the Furniture Combo Breaker
in House buying, renting & selling
I don't really understand all this HIP malarky..anyone explain it in plain english?!?!?!

Ta
Made it - 15 years married!! Finally!! xx:beer:
«1

Comments

  • Doozergirl
    Doozergirl Posts: 34,082 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    http://www.homeinformationpacks.gov.uk/consumer/

    Apologies for just posting a link but it is all in pretty plain English on that website.

    If you have any more questions, then throw them our way!
    Everything that is supposed to be in heaven is already here on earth.
  • clutton_2
    clutton_2 Posts: 11,149 Forumite
    you have to buy a whole load of info to present to your prospective purchaser - such as local authority searches, home energy efficiency certificate blah blah blah - it will cost you From £250 to ++++ some EAs have an agreement with their local firm that produces the HIPS report that you can pay for the report when the property is sold - but check it out with a number of different agents.
  • Jorgan_2
    Jorgan_2 Posts: 2,270 Forumite
    If you require a HIP, check with local solicitors to see what they offer.
  • gerturdeanna
    gerturdeanna Posts: 4,350 Forumite
    Part of the Furniture Combo Breaker
    You need a Land registry search in there.....shoot!! I've charges against my property..how will that affect us? Obviously the charges will be cleared when the house sells but will still show in the pack!!
    Made it - 15 years married!! Finally!! xx:beer:
  • Doozergirl
    Doozergirl Posts: 34,082 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I don't think the basic title register shows that. Additional charges after the original mortgage

    If you have a mortgage against your house, you have a charge. Don't worry about it. Additional charges after the original mortgage I think come in the form of a separate document anyhow.

    Anyway, no buyer even looks at it. It goes to the solicitors and it's all stuff that they would see anyway - just you produce the document it instead of them.
    Everything that is supposed to be in heaven is already here on earth.
  • clutton_2
    clutton_2 Posts: 11,149 Forumite
    my local EA says not one single purchaser has asked to see the HIP on ANY property he has on the market
  • david29dpo
    david29dpo Posts: 3,986 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    clutton wrote: »
    my local EA says not one single purchaser has asked to see the HIP on ANY property he has on the market

    Same here.
  • gerturdeanna
    gerturdeanna Posts: 4,350 Forumite
    Part of the Furniture Combo Breaker
    Ours did say that last night as well. He also said the average cost is about 300 pounds. Anyone made a pack up thereselves? Is it cheaper?
    Made it - 15 years married!! Finally!! xx:beer:
  • david29dpo
    david29dpo Posts: 3,986 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    It will cost you about £250 to do it yourself. £150 ish for the searches and £100 ish for the EPC. Easy to do yourself.
  • Jorgan_2
    Jorgan_2 Posts: 2,270 Forumite
    gerturdeanna wrote: »
    Ours did say that last night as well. He also said the average cost is about 300 pounds. Anyone made a pack up thereselves? Is it cheaper?

    The solicitors we use to produce the packs charge between £220-300 + VAT depending on the size of the property. Check with your agent before producing the pack that they are happy to accept a pack you have made yourself. They are the ones liable if their is any problems.

    I have only had one person ask to see a pack and that was because his solicitor asked him to view the pack to obtain some information regardiing a conveyancing matter. Why the solicitor couldn't look at the pack he had, was never discovered.:confused:
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