Reply to: hmpf

[Moscow Mule]

Were I to be in the market for a place right now I would be wondering why a vendor was trying to avoid supplying a HIP.

Are you normally this suspiciuos?

If 2 properties were of interest, 1 with and 1 without HIP I suspect I would favour the with.

I would favour the most appropriate one in the right location.

If they were identical properties right next door to each other, I'd expect a 500 quid discount on the one without a HIP.

[The Lone Gunman]

My flat is on the market<snip>

Were I to be in the market for a place right now I would be wondering why a vendor was trying to avoid supplying a HIP.
If 2 properties were of interest, 1 with and 1 without HIP I suspect I would favour the with.

[Moscow Mule]

We shall see.

Indeed we shall.

My flat is on the market at the moment (obviously without HIP) the 500 quid cost of a HIP is dwarfed by the agency commission anyway.

I even had one agent who advised against putting it on the market (edit: until 1st June) anyway due to the Law Lords review happening at the moment (BBC). He was then happy to absorb the cost of the pack in his fees.

If the lack of a HIP is an issue for a potential buyer, I will be more than happy to drop the price by 500 quid.

[The Lone Gunman]

September these days old boy

Realy? Well I never. It has been a long time since I bought new (or old for that matter).

[Bagpuss]

New registrations come out Aug 1st. Effectively makes your 24 hour old car 6 months old.

September these days old boy

[The Lone Gunman]

Your statement is nonsense.

We shall see.

[Moscow Mule]

Nobody is going to buy a house without a HIP unless it is offered realy cheap.

People have been buying houses without a HIP for the last 200+ years, I don't think it's going to make that much difference.

Everything included in the HIP (see below) should currently be done by your solicitor. If no HIP is supplied, then it will cost a bit more for your legal fees.

Your statement is nonsense.

Compulsory documents in a HIP
Index
Energy Performance Certificate
Sale statement
* The address of the property being sold
* Whether the property is freehold, leasehold or commonhold
* Whether the property is registered or unregistered
* Whether or not the property is being sold with vacant possession
Standard searches
* The local land charges register relating to the property being sold. If the search is carried out by the local authority, an official search certificate will be provided. Alternatively a personal search company can be used.
* Other records held by the local authority on matters of interest to buyers, such as planning decisions and road building proposals. These are referred to as local enquiries in the Home Information Pack regulations. A local authority or a personal search company can be used.
* The provision of drainage and water services to the property. The local water company or a personal search company can be used (however, the search must comply with the HIP Regulations).
Evidence of title
* Official copies of the individual register (made up of a property register, proprietorship register and, typically, a charges register)
* An official copy of the title plan

[Moose423956]

Apparently, the fine for NOT having an HIP is £200. That's £100 less than the cost of an HIP. So don't get one, and pay the lower sum. Sorted.

[The Lone Gunman]

They will be waiting a long time then - as long as the property is on the market before 1st June you've got until the end of December to sell it without a HIP.

HIP doesn't give you a valuation - required by the mortgage company at a cost of 200 quid (ish).

So, as a buyer, I couldn't give a crap.

Nobody is going to buy a house without a HIP unless it is offered realy cheap.

[The Lone Gunman]

none the wiser

New registrations come out Aug 1st. Effectively makes your 24 hour old car 6 months old.

[Moscow Mule]

Just because sellers are flooding the market doesnt mean buyers are rushing in.

Most buyers are hanging fire till HIPs are in place so they know what they are getting. Who in their right mind is going to buy a house now without a HIP? That is like buying a car on the 30th June.

There may be a short term blip.

They will be waiting a long time then - as long as the property is on the market before 1st June you've got until the end of December to sell it without a HIP.

HIP doesn't give you a valuation - required by the mortgage company at a cost of 200 quid (ish).

So, as a buyer, I couldn't give a crap.

[Bagpuss]

Doh! 31st July.

none the wiser

[The Lone Gunman]

What's special about the 30th June?

Doh! 31st July.

[Bagpuss]

That is like buying a car on the 30th June.

What's special about the 30th June?

[The Lone Gunman]

Just because sellers are flooding the market doesnt mean buyers are rushing in.

Most buyers are hanging fire till HIPs are in place so they know what they are getting. Who in their right mind is going to buy a house now without a HIP? That is like buying a car on the 30th June.

There may be a short term blip.