HIP Help!

PCarter99

Hi,

I'm buying a house (a repossession), it's 4 beds but doesn't have a HIP.
The agents aren't making a fuss about it and are saying it'll be arriving soon but I'm sceptical as the property has been on the market for weeks.

My offer has been accepted and I'm at a stage where I need to do a full survey. Feel like I should stall until the HIP arrives in case something is fundamentally wrong.

Is this reasonable for me (or my right) to do so ?

Any advice, wise ones ?

geralddlp

well, what do you think the hip is going to tell you that could be fundementally wrong ?
Seems to me you get an idea about the energy efficiency, and then there are the searches, not sure there is a whole lot more in it.

The problem you have to balance against this, is that if it's a repossesed house, the agent is oblidged to keep it on the market, even after accepting an offer. So you're in danger of someone else coming in an gazzumping you.

This happened to my sister a few weeks ago, less than 2 weeks before exchange she was gazzumped, the agent continued promoting the property, explained that there was a legal requirement, she was left holding the legal and survey bills,

I would be inclined to take a chance on the survey if you want the house,
and risk the hip, but it's your call,

Cheers G

jimc_2

Don't worry unduly. This could be just another case of Estate Agent (mis)communication. The seller only needs to have proof of ordering the HIP and it's the Estate Agent who is legally responsible for making sure they have proof it has been ordered.

As regards a survey, this part of a HIP was dropped long ago because of the reaction of the RICS. There is now nothing in a HIP resembling anything like a survey. It's back to the old days of 'offer subject to survey'.

Just go ahead with your own survey now if the offer has been accepted and worry about the HIP later.

lomond125

The only doc which is not realy of much use is the energy cert all the rest i.e. land reg, local searches water authority will be done by your solrs anyway
If its a repo the agents should not have any delays in providing the required docs and should make these available within 14 days of your request according to the rules
The epc is not realy worth the paper its on as it tells you nothing you cant work out for yourself and the costs given for heating etc are wildley inaccurate,I speak from experience,
If you want a copy of the hip they can charge you for copying and postage but it is free for a download,at the end of the day its a waste of time.
I am selling and did my own for £175 all in the agents price started at£300+vat not a bad earner????

Jorgan_2

I sold a repo earlier this year and it took eleven weeks for the HIP to come through.

You will not have the option to stall things if its a repossession, you will need to exchange in the 21 or 28 days stipulated by the mortgage company. Your solicitor should have all the necessary information from the mortgage company's solicitor.

There were some figures out about a year ago that stated 40% of HIPs would never be completed because a sale would be agreed on the property.

Jorgan_2

lomond125 wrote: »

I am selling and did my own for £175 all in the agents price started at£300+vat not a bad earner????

I'd like to see the breakdown of your £175 HIP, the EPC usually costs £80-120, a search (in my area) is £120.

lomond125

Epc £80
L/Reg £6 for on line application
Water/drainage £35
Local search £120
Forms d/l from web site,the estate agent was a bit r/off that I did not use him but accepted the pack.

The pack shown to me by the agent was about 1.5 ins thick and full of bull to justify the cost.
The web site is quite clear on what is required and where to get it from and the council offices are aware of what to supply.
Once issued it is valid for 12 months when a new epc will be required
The web site is www.homeinformationpack.gov.uk.
Trust that answers your question

Jorgan_2

lomond125 wrote: »

Epc £80
L/Reg £6 for on line application
Water/drainage £35
Local search £120
Forms d/l from web site,the estate agent was a bit r/off that I did not use him but accepted the pack.

The pack shown to me by the agent was about 1.5 ins thick and full of bull to justify the cost.
The web site is quite clear on what is required and where to get it from and the council offices are aware of what to supply.
Once issued it is valid for 12 months when a new epc will be required
The web site is www.homeinformationpack.gov.uk.
Trust that answers your question

I make that £241 not the £175 as you stated.