HIPS - How much?

chriserenity

Ugh. We SO need a sticky on this.

Private sales defined by not using an estate agent or using a 'match up vendor with buyer' company do require HIPs yes. Private sales defined by such situations as:

"buyer approaches then homeowner but not vendor, buyer asks "can i buy your house". Homeowner then becomes vendor when they say "yes, done deal" and no-one else knows its for sale.

Similarly if a family member wants to pass the family property onto their son and the property doesn't go on the open market a HIP is not required.

Essentially if marketing is involved, even verbal marketing a HIP is required.

dekh

The wording from:

https://www.homeinformationpacks.gov.uk

Since 14 December 2007 every home put on the market, no matter what size, must have a Home Information Pack. It brings together valuable information at the start of the process - such as a sale statement, local searches and evidence of title - which could save you money, time and stress. The Pack also includes an Energy Performance Certificate that contains advice on how to cut CO2 emissions and fuel bills.

I think despite the all inclusive wording it might be the case the residential properties with a commercial element - mixed use? - don't need a hip. Perhaps that means things like shop with flat above therefore hip not required if selling as a unit but selling the flat separately HIP required... I'm probably wrong here.

chriserenity

dekh wrote: »

The wording from:

www.homeinformationpacks.gov.uk

Since 14 December 2007 every home put on the market, no matter what size, must have a Home Information Pack. It brings together valuable information at the start of the process - such as a sale statement, local searches and evidence of title - which could save you money, time and stress. The Pack also includes an Energy Performance Certificate that contains advice on how to cut CO2 emissions and fuel bills.

I think despite the all inclusive wording it might be the case the residential properties with a commercial element - mixed use? - don't need a hip. Perhaps that means things like shop with flat above therefore hip not required if selling as a unit but selling the flat separately HIP required... I'm probably wrong here.

You are correct. Mixed sales are currently exempt. Heres the list of the other exceptions:

http://www.homeinformationpacks.gov.uk/consumer/60_Do_I_need_a_Pack.html

jimc_2

chriserenity wrote: »

Ugh. We SO need a sticky on this.

I'm in total agreement that this needs a sticky. We've both responded to the same question a few times now and it still comes back!

As chriserenity has pointed out, the private sale 'exemption' is so miniscule that it probably only applies to tens of property sales a year (if that). The C&LG meaning of 'private sale' has no relationship with what normal people would refer to as 'selling privately' which normally just means without an agent.

The safest answer is usually "If you're selling, you need a HIP."

brummybloke

hmm, i told some people at work i was going to be selling my house soon and today recieved a call from someone i dont know who heard from a friend i was going to be selling.

he wants to view the house tomorrow, am i going to need to get a pack?

the estate agent is due around tomorrow to sign a contract, i think i will hold off for a day and if the viewer likes the house then invite him to put in an offer same day as i will be selling £10,000 cheaper if i can shift not through estate agents and pronto.

im just confused as to what i am supposed to do if a private sale is agreed? obviously a solicitor is required, i would use the one i used when buying my house.

google is normally my friend but on this occasion i get nothing but 100's of these 'we will buy your house for cash' websites which are 0 help for my quandry

chriserenity

Hi Brummybloke,

Simply selling your property without an estate agent is commonly known as 'private sale' but in terms of HIPs a private sale refers to a circumstance such as a potential buyer initiates the transaction by approaching an at that point non-vendor/seller and asking if they would consider selling their property. This is a private sale. As is if an ageing parent sells their house to their son/daughter for tax reasons - only 2 individuals know about the sale ergo the sale is truly private.

In your circumstance you openly advertised your property by word of mouth so you will need a HIP. The HIP regs state (paraphrased) "if you market your house to the public or a section of the public a HIP is required".

I had something similar(ish) the other week - Vendor tapped his pint of beer in his local and announced he was thinking of selling his house. One of the regulars said he was interested and arranged a viewing. Subsequent to the viewing the viewer decided to buy at which point I got the call from the Vendor - "Is a HIP required?" Yes - you marketed the property.

Is it clear? I've PMed you.

dekh

Word of mouth is still marketing I'm afraid.

AFAIK Just ordering your HIP is enough to let you start marketing (although you've already done that!).

If you can sell without an EA and get your next mortgage without a broker then you'll save thousands on your transactions.

Just a cheap conveyancer required to complete the picture ... :rolleyes:

chickmug

You need to be really careful about where you get a HIP. Evidence is coming to light that not all solicitors will accept the full contents of all the packs, Also that some of the HIPs providers are not fully complying with the requirements.

d900

got mine for 299 including VAT.
it was the same company the estate agent goes through to get them done but without the EA mark up.

of course it was all a waste of time but heh 300 quid well spent!

CelticGhirl

I take it this HIP doesn't apply in Scotland?