Jump to content
House Price Crash Forum

Recommended Posts

I assume that anyone putting their House on the market prior to June next year does not have to pay for the pack? What would happen (for instance) if you new you wanted to move in the next couple of years but wanted to avoid buying an HIP. Could you put it on the market for twice it's value, then drop the price by half when you wanted to sell in two years time, thus avoiding the HIP?

When you buy an HIP how long does it last? My last property took three years to sell - unique property so needed unique buyer - never again!!!!!!

Edited by cupidstunt

Share this post


Link to post
Share on other sites

I wouldn't consider myself m'learned, but what is the definition of selling a house? What would happen if someone put up a website saying "we're not selling our house at the moment, but we're very houseproud and enjoy showing people the features and improvements we've made to our house."

Billy Shears

Share this post


Link to post
Share on other sites

I wouldn't consider myself m'learned, but what is the definition of selling a house? What would happen if someone put up a website saying "we're not selling our house at the moment, but we're very houseproud and enjoy showing people the features and improvements we've made to our house."

Billy Shears

Well I wouldn't consider myself learned either , but I will be in a years time. I started on a Home Inspectors course last week. My understanding is that the HCR ( Home Condition Report ) which constitutes part of the HIP is valid for 6 months. So I think the HIP will also have to be valid for 6 months. Theres still some legislation being ratified on the subject. Due out this month

I've had all sorts of feedback from guys down the pub. Some quite positive about the HIP scheme coming in some quite adverse. I'm wasting my time etc.

Since getting interested in the subject of HIPS I've come to believe that it's a good idea . All the data is up front and from what I've learnt so far the process will be transparent. Part of the HIP will be all the searches that is part of the current process. All the HCR's being uploaded onto a National Database. Bit like an MOT for a house. Surely this is a good thing.

I'd like opinion from you HPC 's . Do you lot think it's a good thing ?

Share this post


Link to post
Share on other sites

Since getting interested in the subject of HIPS I've come to believe that it's a good idea . All the data is up front and from what I've learnt so far the process will be transparent. Part of the HIP will be all the searches that is part of the current process. All the HCR's being uploaded onto a National Database. Bit like an MOT for a house. Surely this is a good thing.

I'd like opinion from you HPC 's . Do you lot think it's a good thing ?

As a potential buyer, I think HIPs are a good idea. Otherwise I have to start spending money on a survey knowing almost nothing about the property. I also like the idea that if sellers muck about and aren't serious, then it will cost them money.

One thing I've been thinking about it this: won't HIPs make the market more efficient, since there will be fewer houses on the market but the sellers of those houses will, on average, be more serious. Hence a smaller number of estate agents will be necessary to manage the property market. Is this wrong?

Billy Shears

Share this post


Link to post
Share on other sites

Could you put it on the market for twice it's value, then drop the price by half when you wanted to sell in two years time, thus avoiding the HIP?

In theory yes!

When you buy an HIP how long does it last? My last property took three years to sell - unique property so needed unique buyer - never again!!!!!!

Current thinking is that this is expected to be down to purchaser's lawer. If the Lawer thinks the legal info is too old to use and that their client's interests may be compromised, they can insist that the seller gets fresh reports

This is all as far as I know, but the detailed 'rules' for HIPS are still being written

Share this post


Link to post
Share on other sites

Fa-fa-fa-fa-fa-fa-fa-fa

Fa-fa-fa-fa-fa-fa-fa-fa

I am a dull and simple lad

Can not tell water from champagne

And I have never met the queen

And I wish Hips ran out every three months, oi!

I hope they don’t delay the plot.

The packs cannot be more than 3 months old when a property is placed on the market.

However, once a property is marketed, the Home Information Pack will remain current throughout the sale process.

It will be for sellers to decide whether they want to update their packs and if they do,

providers are expected to offer this service at a nominal cost.

http://www.odpm.gov.uk/index.asp?id=1161342

Share this post


Link to post
Share on other sites

Isn't the maximum fine for putting a property up for sale without a HIP to be about £200? And how will it be policed if it's a private sale rather than through an EA? I doubt the government will emply a huge HIP Police squad ;-)

Certainly in the early days I'd imagine private sellers may ignore HIPs, though their lawers will, no doubt, point out to both parties, in the event of a sale, that they are breaking the law by entering into a sale without the vendor supplying a SIPP.

Edited by 737

Share this post


Link to post
Share on other sites

Isn't the maximum fine for putting a property up for sale without a HIP to be about £200? And how will it be policed if it's a private sale rather than through an EA? I doubt the government will emply a huge HIP Police squad ;-)

Certainly in the early days I'd imagine private sellers may ignore HIPs, though their lawers will, no doubt, point out to both parties, in the event of a sale, that they are breaking the law by entering into a sale without the vendor supplying a SIPP.

The fine wuill be £200 per day that the property is marketed without a HIP

Share this post


Link to post
Share on other sites

The fine wuill be £200 per day that the property is marketed without a HIP

Where did you hear or see that?

Will failure to provide a home information pack be a criminal offence?

No, but there will be enforcement based on civil sanctions. Trading Standards Officers will have the discretion to determine appropriate action in each case - whether to provide information and assistance, issue a warning or a fixed penalty, probably £200.

http://www.thisismoney.co.uk/help-and-advi...8&in_page_id=90

What if I don't have one?

The penalty charge for breach of the HIP duties is initially set at only £200. However, the Office of Fair Trading could issue a banning order preventing estate agents who flout the rules from trading.

http://www.findaproperty.com/story.aspx?storyid=8949

Edited by 737

Share this post


Link to post
Share on other sites

Where did you hear or see that?

Will failure to provide a home information pack be a criminal offence?

No, but there will be enforcement based on civil sanctions. Trading Standards Officers will have the discretion to determine appropriate action in each case - whether to provide information and assistance, issue a warning or a fixed penalty, probably £200.

http://www.thisismoney.co.uk/help-and-advi...8&in_page_id=90

What if I don't have one?

The penalty charge for breach of the HIP duties is initially set at only £200. However, the Office of Fair Trading could issue a banning order preventing estate agents who flout the rules from trading.

http://www.findaproperty.com/story.aspx?storyid=8949

I asked this question last month on the training week-end I was attending in Reading ( Whiteknights )

I'm doing the Home Inspectors course with SAVA. I believe the govt will be fairly strict on this. Flouting it will seriously undermine their stance on HIPS. They have a lot at stake on this.

So do I as a matter of fact , suppose I'm VI bigtime !

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 334 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.