will certainly vary from firm to firm but a figure of around ?400 is being bandied around. Just about enough to buy a new cooker for the seller’s new home.

The aims of the HIP are to make the transaction quicker with generally reduced transaction times. It is also to make the whole business more efficient with a reduction in abortive costs incurred by both consumers and estate agents alike, and it is aimed to make the whole transaction less stressful and less confusing to consumers.

Time will tell as to whether it will b

If you live in England and are thinking of selling your house this year then there is good reason to officially place it on the market before the lst June 2007.

Why? Because from that date the new HIP’s come into force. And what is a new HIP? Nothing to do with gammy legs I’m afraid, we are talking Home Information Packs here. HIP’s are the government’s new thinking aimed at speeding house sale transactions and cutting down on the huge number of potential deals that collapse between acceptance of an agreed offer and exchange of contracts.

HIPS’s are compulsory, though there are some notable exceptions. You will NOT need a HIP if:

There is no marketing, i.e. the property is being sold to a member of your family.

For non-residential properties.

For seasonal and holiday accommodation.

For mixed sales, for example shops with a flats above.

For sales of portfolios of properties.

For properties not being sold with completely vacant possession.

For unsafe and properties waiting to be demolished.

For right to buy and similar sales.

So what does a HIP contain and who is responsible for its preparation?

The HIP must be prepared by the person marketing the property, or their representatives. It MUST contain:

Details of the title of the property.

Local and water searches.

Details of leasehold information.

An energy certificate.

It MAY also contain:

Other searches.

Commentary on legal title.

Replies to enquiries regarding fixtures and fittings.

So how much will the HIP cost, and who foots the bill?

The cost of the HIP will be for the seller’s account, and they will have to pay that bill regardless as to whether the house sells or not. In the past the seller rarely incurred any costs until the property sold. That is why there has been a big surge of properties coming on the market for sale. Providing the property is put up for sale before June 1st 2007 no HIP is required, so long as it sells before 1st January 2008. After that date it will need a HIP preparing.

The cost of having a HIP prepared will certainly vary from firm to firm but a figure of around ?400 is being bandied around. Just about enough to buy a new cooker for the seller’s new home.

The aims of the HIP are to make the transaction quicker with generally reduced transaction times. It is also to make the whole business more efficient with a reduction in abortive costs incurred by both consumers and estate agents alike, and it is aimed to make the whole transaction less stressful and less confusing to consumers.

Time will tell as to whether it will be

f contracts.

HIPS’s are compulsory, though there are some notable exceptions. You will NOT need a HIP if:

There is no marketing, i.e. the property is being sold to a member of your family.

For non-residential properties.

For seasonal and holiday accommodation.

For mixed sales, for example shops with a flats above.

For sales of portfolios of properties.

For properties not being sold with completely vacant possession.

For unsafe and properties waiting to be demolished.

For right to buy and similar sales.

So what does a HIP contain and who is responsible for its preparation?

The HIP must be prepared by the person marketing the property, or their representatives. It MUST contain:

Details of the title of the property.

Local and water searches.

Details of leasehold information.

An energy certificate.

It MAY also contain:

Other searches.

Commentary on legal title.

Replies to enquiries regarding fixtures and fittings.

So how much will the HIP cost, and who foots the bill?

The cost of the HIP will be for the seller’s account, and they will have to pay that bill regardless as to whether the house sells or not. In the past the seller rarely incurred any costs until the property sold. That is why there has been a big surge of properties coming on the market for sale. Providing the property is put up for sale before June 1st 2007 no HIP is required, so long as it sells before 1st January 2008. After that date it will need a HIP preparing.

The cost of having a HIP prepared will certainly vary from firm to firm but a figure of around ?400 is being bandied around. Just about enough to buy a new cooker for the seller’s new home.

The aims of the HIP are to make the transaction quicker with generally reduced transaction times. It is also to make the whole business more efficient with a reduction in abortive costs incurred by both consumers and estate agents alike, and it is aimed to make the whole transaction less stressful and less confusing to consumers.

Time will tell as to whether it will b

buy and similar sales.

So what does a HIP contain and who is responsible for its preparation?

The HIP must be prepared by the person marketing the property, or their representatives. It MUST contain:

Details of the title of the property.

Local and water searches.

Details of leasehold information.

An energy certificate.

It MAY also contain:

Other searches.

Commentary on legal title.

Replies to enquiries regarding fixtures and fittings.

So how much will the HIP cost, and who foots the bill?

The cost of the HIP will be for the seller’s account, and they will have to pay that bill regardless as to whether the house sells or not. In the past the seller rarely incurred any costs until the property sold. That is why there has been a big surge of properties coming on the market for sale. Providing the property is put up for sale before June 1st 2007 no HIP is required, so long as it sells before 1st January 2008. After that date it will need a HIP preparing.

The cost of having a HIP prepared will certainly vary from firm to firm but a figure of around ?400 is being bandied around. Just about enough to buy a new cooker for the seller’s new home.

The aims of the HIP are to make the transaction quicker with generally reduced transaction times. It is also to make the whole business more efficient with a reduction in abortive costs incurred by both consumers and estate agents alike, and it is aimed to make the whole transaction less stressful and less confusing to consumers.

Time will tell as to whether it will b

d who foots the bill?

The cost of the HIP will be for the seller’s account, and they will have to pay that bill regardless as to whether the house sells or not. In the past the seller rarely incurred any costs until the property sold. That is why there has been a big surge of properties coming on the market for sale. Providing the property is put up for sale before June 1st 2007 no HIP is required, so long as it sells before 1st January 2008. After that date it will need a HIP preparing.

The cost of having a HIP prepared will certainly vary from firm to firm but a figure of around ?400 is being bandied around. Just about enough to buy a new cooker for the seller’s new home.

The aims of the HIP are to make the transaction quicker with generally reduced transaction times. It is also to make the whole business more efficient with a reduction in abortive costs incurred by both consumers and estate agents alike, and it is aimed to make the whole transaction less stressful and less confusing to consumers.

Time will tell as to whether it will b

will certainly vary from firm to firm but a figure of around ?400 is being bandied around. Just about enough to buy a new cooker for the seller’s new home.

The aims of the HIP are to make the transaction quicker with generally reduced transaction times. It is also to make the whole business more efficient with a reduction in abortive costs incurred by both consumers and estate agents alike, and it is aimed to make the whole transaction less stressful and less confusing to consumers.

Time will tell as to whether it will be successful. It is fair to say that the property industry as a whole has not been wholehearted in its support for the introduction of new HIP’s, though when did the property business ever welcome wholesale change?

Cooker and stove sellers are looking forward to a booming year. Like so many things, time will tell if their optimism is justified.