Want to Discontinue With Estate Agent: Do We Need New HIP?
Q.
If we stopped marketing our house with an estate agent but advertised ourselves on an online site would we need a new HIP?
A.
When times are hard in the economic climate the last thing house buyers need is more stress and complications but whether you like it or not Home Information Packs are now a statutory part of the house buying process. The packs, a government initiative, are intended to make the home buying process run more smoothly. The packs contain everything a buyer needs to know so that he or she can make an informed decision about the house.
The packs are also intended to help sellers get a smooth sale. If a buyer has all the information he or she needs before the sale then there is much less chance of them coming back after the sale with a complaint or pulling out before the sale after learning of something they were not aware of.
Where do I Get a HIP?
You can obtain a HIP in one of two ways. You can either compile it yourself, although this can take some time and effort, or you can have a solicitor do this. The HIP contains various documents including title deeds and an optional Home Condition Report, detailing the condition the property is in. Under your instructions a solicitor will contact the necessary people and compile the HIP.During the buying or selling process you will probably also encounter an estate agent. For the seller he or she will help market your property to potential buyers. Of course this 'marketing' now includes having a completed HIP on hand to show the buyers. It can happen though that you do not get on with your estate agent or for whatever reason you decide the time has come to change estate agents then there is no reason to change your HIP.
The only time it would be necessary to change the HIP would be if there was a significant delay in the marketing of your home. If you change estate agents but there is a big delay in between and in this time you don't market your property then it may be necessary to get a new HIP. But as long as the handover is smooth then you can carry on with the HIP you've already got.
