HIPS pack - why should the buyer pay??

vwjo

Hi all, we have an offer accepted and mortgage agreed - solicitor says that because property went on sale last year, there is no HIPS pack - and that if we want this information, we would need to pay for it? Is this right??

Doozergirl

That's right.

Some of the information is essential (Land Registry title), some of it may have to be replicated by a buyer (searches) and some is pretty worthless (EPC)

The essential bit costs £6. The searches are expensive but many buyer's solicitors do their own becaue htey either aren't the right sort or they are considered out of date.

vwjo

Thanks Doozer! I'll have a look down the back of the sofa....see if there's any bl**dy money left.......... :-)

trudiha

Why not, you'll be paying for everything else? I suspect that there might be a final process that no one has told me about that involves being shaken by the ankles in case there's any small change left in my pockets.

puddy

Im interested in this as well. Im hoping to put my flat on the market in about a month, meaning I need to instruct a HIP. However, Im already browsing the interet for flats and lots of the ones Im interested in have been around since prior to the date when all properties needed a HIP, therefore, (all being well) I will sell mine and have to pay for a HIP and buy a flat that might not have a HIP, meaning I pay for that one too?
How likely is it that I could put an offer in for flat I see on the basis that the seller gets me a HIP? and if the seller does this, will my own mortgage company or solicitor want to replicate some of the information in it as you have stated above??

thanks

sassybooboos

jenner wrote: »

Im interested in this as well. Im hoping to put my flat on the market in about a month, meaning I need to instruct a HIP. However, Im already browsing the interet for flats and lots of the ones Im interested in have been around since prior to the date when all properties needed a HIP, therefore, (all being well) I will sell mine and have to pay for a HIP and buy a flat that might not have a HIP, meaning I pay for that one too?
How likely is it that I could put an offer in for flat I see on the basis that the seller gets me a HIP? and if the seller does this, will my own mortgage company or solicitor want to replicate some of the information in it as you have stated above??

thanks

if you think about it any property you try to buy that hasn't got a hip means it has been on the market for a long time, so they probably would take a low offer if desperate to sell. the hips are a waste of money anyway so i would try and reduce the price rather that demand a hip.

country_sport

As said above, if the property has a HIP over about 6 months old its as good as useless anyway, most of its contents are out of date. And if its been on the market that long you will get a big discount anyway.
Make sure the HIP you buy contains official searches, these will be excepted by any solicitor and lender.

jimc_2

vwjo wrote: »

Hi all, we have an offer accepted and mortgage agreed - solicitor says that because property went on sale last year, there is no HIPS pack - and that if we want this information, we would need to pay for it? Is this right??

I'm intrigued about why you should want the HIP pack. Most of the discussions here are about how sellers can AVOID having to pay for a pack!

Essentially a HIP contains two components - an energy efficiency survey (with recommendations) and stuff the solicitor needs for conveyancing. a HIP can cost anywhere between £200-£500 depending on supplier (and sometimes quality, but dearer doesn't necessarily mean better. It sometimes just means someone in the middle - solicitor or estate agent - is adding a mark-up.) It does NOT contain any surveys, structural or otherwise.

The only unique information you would get if you commission a HIP is the EPC (Energy Performance Certificate) which can be commissioned separately. Prices quoted are between £50 and £100 for that alone. (Apparently there is huge competition so look for the low end of that scale.)

The rest of the HIP is stuff that you will be paying your solicitor to find anyway (searches etc.) so you would be paying TWICE for the rest of the pack.

It might be best to ask the solicitor to define exactly what they meant by that remark and then ask yourself exactly what you want a 'HIP' for. You could find you only really want/need the EPC and can buy this separately for a lot less.

vwjo

Thanks Jimc, and giggles to trudiha! :-)
I don't want the HIPS pack meself.....just going off what the solicitor said......I'll probe him further tomorrow, methinks. (I wonder what his 'probing fee' is...)

nelly_2

Hips packs...whats the point more like

We looked at about 20 houses and bought one I still aint bothered looking at any single one of the hips they are more rubbish than the scotland national football team

And I doubt they have a 'poo-pipe' section too

Debt_Free_Chick

vwjo wrote: »

Hi all, we have an offer accepted and mortgage agreed - solicitor says that because property went on sale last year, there is no HIPS pack - and that if we want this information, we would need to pay for it? Is this right??

Even if you had the HIP, you would be paying for your solicitor to get the same information all over again.

HIPs are pretty pointless. If this property DID have a HIP it would contain the local authority search from 12 months ago. As part of the buying process, your solicitor is going to get a current LA search.

Having a HIP saves you no money. You're not paying out extra with no HIP - you're only paying what you would normally pay.