HIPs selling your home

The HIPs or sellers pack is now only needed on 4 bedroom homes and upwards. 

Update news flash

Hips only on 4 bedroom properties and larger…

If you advertise or market your home as large 3 bedrooms, or large family home then no HIPs  or EPC are required…

In a further change to existing proposals, sellers will only need to have commissioned a pack before they put a property on the market, as opposed to waiting until they have a HIP in place.

End

But did you know?  

1.  After the 1 st of August 2007, If you want to sell your home and avoid paying for the HIPs pack approx £700 you should market quite legally as 3 bedroom plus study or large family home or apartment. see this post home sold with no bedrooms.

So in today’s property marker Physic ability is needed, as to what day 14 days in the future you will get the urge to  sell.

If you make a private sale then all the above is not needed,  or you may consider you can just pay the civil fine of £200 and not bother with the HIP and the EPC, which would mean you can sell you home when you want to

Here are a few FAQ.

Can i put my home up for sale before the HIP is complete?

In a further change to existing proposals, sellers will only need to have commissioned a pack before they put a property on the market, as opposed to waiting until they have a HIP in place.
What if a sale has been agreed but falls through?

If the property was placed on the market before 1 August 2007 and an offer accepted, (whether before after that date), then if the sale falls through, provided it is returned to the market within 28 days, no HIP is required.

Likewise if the property has been marketed after 1 June 2007 and has a HIP, if the sale falls through and it is returned to the market within 28 days, then no new HIP is required. In addition, if a property has a HIP and is later taken off the market but is put back on it before a year has elapsed, then no new HIP is required.

What if a buyer requests a copy of the HIP?

You or your agent will arrange this.

However there is no requirement to hand out copies of the HIP on demand. If a copy is requested, then there is a duty to supply this within 14 days.

However, there is no duty if you or your estate agent thinks the potential buyer could not afford the property, is not really interested in it, or you would not wish to sell to them anyway.

Terms can be imposed for supplying copies, such as for payment of copying charges.