:: Home Information Pack ::
Currently if you see a property you want to buy you can put your own property on the market immediately.
However, from 1 June 2007 it will be mandatory for the seller of a property, in England & Wales, to provide a potential buyer with a Home Information Pack.
The seller will not be able to market their property without one!
This pack known as a HIP (Home Information Pack), will be introduced by the Government to significantly reduce the number of sales that fall through by providing key information to a potential buyer at the beginning of the process.
The contents of the HIP will include the following documents, a Local Authority Search, a Home Condition Report and a Property Information Form, to name only a few.
In addition you will be expected to complete certain forms, a Home Contents Form and a Home Use Form, and provide copies of any relevant documentation i.e. utility bills and guarantees etc.
That could take less than a week but might take up to two weeks. As a result of this delay you could end up losing the house of your dreams.
The anticipated cost of the HIP, which you will have to pay for at some stage, will be between £600.00 and £1,000.00. This figure will include the cost of the Home Condition Report (a survey), the cost of the local, water and drainage searches and the cost of compiling the HIP.
However, as long as you are buying another residential property, you will not have to pay these fees on your related purchase. In effect, the cost is simply being moved from your purchase to your sale.
Choosing the correct HIP provider will be essential. You will need a supplier who is fast, efficient, competitive and thorough. A tall order, but you need look no further. Robert Meaton & Co Solicitors welcome any initiative to speed up the conveyancing process but recognize many of our clients would not wish to incur the additional expense before the process of selling their property can begin.
Therefore in order to assist our clients, Robert Meaton & Co, with many local estate agents and home inspectors, have joined HIPAG (The Independent HIP Group, www.hipag.co.uk). HIPAG will, on your behalf, arrange finance for the cost of the HIP, on a deferred payment scheme. Which will mean NO UP FRONT COST to you.
Payment will be on completion.
Click here if you want to order your HIP Information Pack
:: Benefits for Estate Agents ::
Are you an Estate Agent? Do you rather work with with one of the solicitors who can be seen easily and quickly and, like you, has local knowledge that could prove essential during the course of a transaction?
Then by dealing with Robert Meaton & Co Solicitors you can be rest assured that:
- you will market properties and exchange contracts sooner than your competitors
- receive personally branded electronic and hard copies of the HIP quickly and efficiently
- receive all the latest HIP news as soon as it is released and be at the forefront of HIP development
- be part of a service that provides quality HIPs that deliver transparency and speed
- have access to our support and advice service
Here at Robert Meaton & Co we will drive this new vehicle forward successfully. Our intention is to make home buying and selling easier and quicker!
