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Clouseau

Hip Packs - Will They Be Compulsory For Private Sales?

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(Thanks for reply) -I am - saves a packet on EA fees too; I'd guess there will be a lot more effort put into trying to effect privately arranged (non-EA) sales in the future, maybe via the Internet? Be very interesting to see what unexpected effects HIPs will have - none of those in the business that I've spoken to seem very keen..

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I thought the legislation says that you cannot market the property without a HIP.

Therefore if someone approached on spec because they want to buy your house then you would not need a HIP. Ditto if you mentioned to a family member that you were considering selling and they offered to buy it.

But if you market the property, ie put it with an estate agent, put it on the web, put a postcard in a newsagent's window etc then you would need a HIP.

Theoretically I could see lots of people (especially those with big, unusual houses in very desirable locations) agreeing to pay estate agents x amount of commission if they sell their house, but that they don't want it marketed. ie, "I'm thinking about selling, if a buyer comes in who would suit this house then maybe you should mention that, whilst it's not on the market, I may be willing to listen to offers". This would seem a reasonable and realistic way around it, but my guess would be that the existence of a contract would be viewed as evidence of marketing (why would you have a contract with an EA unless they were marketing it, however informally) so it may only work if the EA trusted you to pay up if they introduced a sale.

This is my interpretation, could be out of date, and may well change or be changed by the courts... anyone know more then please correct me!

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I thought the legislation says that you cannot market the property without a HIP.

Therefore if someone approached on spec because they want to buy your house then you would not need a HIP. Ditto if you mentioned to a family member that you were considering selling and they offered to buy it.

But if you market the property, ie put it with an estate agent, put it on the web, put a postcard in a newsagent's window etc then you would need a HIP.

Theoretically I could see lots of people (especially those with big, unusual houses in very desirable locations) agreeing to pay estate agents x amount of commission if they sell their house, but that they don't want it marketed. ie, "I'm thinking about selling, if a buyer comes in who would suit this house then maybe you should mention that, whilst it's not on the market, I may be willing to listen to offers". This would seem a reasonable and realistic way around it, but my guess would be that the existence of a contract would be viewed as evidence of marketing (why would you have a contract with an EA unless they were marketing it, however informally) so it may only work if the EA trusted you to pay up if they introduced a sale.

This is my interpretation, could be out of date, and may well change or be changed by the courts... anyone know more then please correct me!

Vey interesting angle on the HIPS question. I'm training to be a Home Inspector and believe that you need a HIP for any property sold. The penalty for marketing without a HIP is £200 per day. I will confirm this HIP question later , but I believe I am right , otherwise the legislation would have a big gaping hole in it that you could drive a bus through.

The one thing I would add is that HIPS is still a moving target , I believe it's coming and will be here to stay , but I wouldn't be surprised to see this legislation tweaked a few times before the 1/6/2007 launch

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Vey interesting angle on the HIPS question. I'm training to be a Home Inspector and believe that you need a HIP for any property sold. The penalty for marketing without a HIP is £200 per day. I will confirm this HIP question later , but I believe I am right , otherwise the legislation would have a big gaping hole in it that you could drive a bus through.

The one thing I would add is that HIPS is still a moving target , I believe it's coming and will be here to stay , but I wouldn't be surprised to see this legislation tweaked a few times before the 1/6/2007 launch

Okay... maybe, but if you were a cash buyer today... do you need a survey?.... No!

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  • 301 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%



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