HIPS (again!)

tocadast

Selling house...obviously need to have HIPS done. Estate agent have offered to do this for £275 + VAT...doesn't seem too bad a price.

They've just dropped some forms round to fill in and one of them is a "Deeds Release Form". This confirms that we're happy for the mortgage Co. to release a copy of our deeds to a local solicitor to "complete the necessary legal work on the preparation of the HIP on your property". Is this necessary? I smell marketing from the solicitor or am I being (as usual) cynical??

Any advice on this and anything else to watch out for on the HIP is very much appreciated.

Ta

country_sport

Odd. Only thing i can think of so far is your house is unregistered with the land registry. This is only if its not been sold for many years or your council was one of the last to get round to it. If so, an epitome of title is required for the HIP. This will mean locating your deeds and if these are with your lender then yes, i can understand your agent request. If this is not the case then i to would be very cynical!

KellsBells

I personally feel that the forms brought round are probably generic ones and cover every eventuality - not necessarily all will be used, but perhaps one in twenty of the vendors they provide hips for will need this, so they get all the forms they might need signed in one go so as to speed up the process.
That way, if it turns out there is an issue with the title, the deeds release form is to hand.

Seems legit to me.x

tocadast

thanks for replies folks....anyone on the "day-shift" any other opinions??

EA due at 10.30 to collect!!

chriserenity

tocadast wrote: »

Selling house...obviously need to have HIPS done. Estate agent have offered to do this for £275 + VAT...doesn't seem too bad a price.

They've just dropped some forms round to fill in and one of them is a "Deeds Release Form". This confirms that we're happy for the mortgage Co. to release a copy of our deeds to a local solicitor to "complete the necessary legal work on the preparation of the HIP on your property". Is this necessary? I smell marketing from the solicitor or am I being (as usual) cynical??

Any advice on this and anything else to watch out for on the HIP is very much appreciated.

Ta

Hi,

KellsBells' explanation sounds the most likely. We've never needed or asked for this document to produce a HIP.

Regarding the registration of the property with the land registry: If it is registered 2 documents are needed from the land registry - an official copy of the register and an official copy of the title plan. If it is unregistered then you need a SIM (Search of the Index Map) again obtained from the land registry.

tocadast

I really appreciate you people taking the time to answer my query.

Many thanks..

country_sport

chriserenity wrote: »

Hi,

KellsBells' explanation sounds the most likely. We've never needed or asked for this document to produce a HIP.

Regarding the registration of the property with the land registry: If it is registered 2 documents are needed from the land registry - an official copy of the register and an official copy of the title plan. If it is unregistered then you need a SIM (Search of the Index Map) again obtained from the land registry.

Also a Epitome of title. Very important.