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Written by rosalind renshaw

HIPs were not all bad, a firm of solicitors has said.

Knights, a legal firm in Tunbridge Wells, Kent, said that some of the pre-marketing elements were useful and should still be put in place.

Graham Dorman, a partner in the firm, said HIPs were helpful in making the housing market work.


He said: “Some of the HIPs regulations were undoubtedly onerous and simply increased sellers’ costs, but they did force them to focus on what buyers would be looking for and the questions they might ask before putting their homes on the market.

“Home owners who are planning to sell their homes should follow the more sensible aspects of the HIPs regime, even though they are no longer compulsory. These
will help sellers to present their properties to best advantage and ensure that buyers do not encounter any unwelcome surprises which they could then use to justify withdrawing from a transaction just when it is regarded as a ‘done deal’ by the seller and estate agent.”

He said sellers should address eight specific issues, including planning and Building Regulations permissions; title; rights of way and access; and Land Registry registration.

Comments

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    Not withstanding the 'pros & cons' will these solicitors halve their fees if ever a form of HIP's is brought back thereby slashing the work required to complete their conveyancing activities? I think not - didn't happen last time!

    • 02 August 2010 14:06 PM
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    The (I think) unintended benefit of HIPs was in getting sellers ready to sell - all those epitomes of title completed before the buyer even made an offer were sales that wouldn't fall through for that reason - hence presumably the reduced drop-out rate during HIPs quoted by one bank (down from 24% to 9%, from memory).

    • 02 August 2010 11:03 AM
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    What people have not realised is that the Home Condition Report plus an EPC will present the buyer with all the information to avoid the surprises mentioned above. This costs circa £250 and is vastly superior to the standard legal responses. Having spent a large sum on training staff for EPCs and HCRs, I still feel aggrieved with Yvette Cooper!! I would be happy to discuss the matter further.

    • 02 August 2010 10:51 AM
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