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Guide to How to Sell My Own Home

HIPs, Conveyancing and the Legal Stuff - Everything You Need To Know

Home Information Packs - What You Need To Know

Introduced in August 2007, Home Information Packs (HIPs) were intended to reduce the number of property sales that fall through by providing important information on properties to potential buyers before they made an offer.

HIPs are currently required for all residential properties with 3 or more bedrooms that are being sold on the open market. In other words, if your property is available for anyone to buy, it needs a HIP. (If you arrange a private, unadvertised sale to a family member, for example, you wouldn't need a HIP).

You are required to provide a valid HIP for your property as soon as it goes on the market - whether you are selling through an estate agent or advertising it yourself.


But What Exactly Is A HIP?

A HIP is basically a booklet containing the following compulsory documents:

  • A HIP index - describing the purpose of each document in the HIP

  • A Sale Statement - describing the property and land that is for sale

  • An Energy Performance Certificate - an officially-issued document rating the energy efficiency of your home. This might seem a bit irrelevant but our badly made houses are responsible for up to 70% of our carbon footprint so this is a move in the right direction.

  • Evidence of Title - an official copy of the Land Registry documents that prove you own and have the right to sell your home

  • Legally-required searches - the results of searches that are a compulsory part of a property sale

There are some optional extras, but these are the compulsory elements.

At first sight, the list above might look a bit confusing, but it isn't really that bad.

Most of the information - the 'Evidence of Title' and the search results - was already required to sell a home. The only difference is that now the seller provides it before the sale - previously, potential buyers had to request it after they had made a successful offer.


How Much Do HIPs Cost & How Do I Get One?

Perhaps the biggest downside of HIPs for sellers is the cost.

Costs vary depending on your local authority and the type of property you have, but you should expect to pay somewhere in the region of £400 - £800 - not small change.

Unsurprisingly, many estate agents are offering to prepare a HIP for properties they sell 'for free'.

But beware - 'free' is likely to mean one of two things:

  • They add the cost of the HIP into their fees

  • You don't own the HIP - if you choose to change agents, you will have to have another HIP prepared

There are other choices, however:

  • Independent HIP providers - these companies will prepare a HIP for you for a fixed fee, with no catches or ties.

  • Solicitors & Conveyancing agents - since the information required in the HIP is usually gathered by solicitors or conveyancing agents anyway, it's quite easy for them to produce HIPs for a fee

  • DIY - that's right, you can compile your own HIP and will only have to pay for some of the documents and searches you need doing. This should save you at least £100 and is not that difficult. To learn more, see 'Preparing your own HIP'

 

 

To read more on this subject please see the list below or your mortgage guide or your home buying guide

Read enough? Just want a quote? To get your best mortgage quote quickly and easily we can put you in contact with a recommended mortgage adviser. It's free, completely confidential and there's no obligation at all. Simply fill out the form below

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Read On

What was the idea behind Home Information Packs?

Home Information Packs - What You Need To Know

Overview of HIPS and Conveyancing

The Sale Process - How It Works

Preparing Your Own HIP

Getting a quote for your HIP

 

 

 

Read On / Full Guide How to sell Your Home

Preparing your Home for the Sale

Preparing the Inside of your Home

Getting the Outside Right

Preparing Your Home on the Day of a Viewing

 

Pricing your Home for the Sale

How to Value & Price Your Home

Valuing Your Home Yourself

Setting the Price

 

How to Handle Viewings & Negotiations Like a Pro

Preparing the Scene

Do You Have To Be There?

Personal Safety

Handling Negotiations

 

Conveyancing and HIPS

Overview of Conveyancing

The Sale Process - How It Works

Home Information Packs - What You Need To Know

Preparing Your Own HIP

 

Read On / Mortgage Guide

How to Choose your Mortgage

Types of Mortgage

Remortgages

Where to Find Your Mortgage

Getting a Mortgage in Principle

Costs of a UK Mortgage

Your Mortgage TOP TIPS

Calculators

A to Z all UK Mortgage Types

 

Read On

Guide to Buying a Home in the UK

Guide to UK Home and Mortgage Insurance

Life Insurance Guide

Glossary of UK Mortgage Terms

Mortgage News

 


 

 

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The best way around this significant problem is to ask an independent mortgage adviser to make anonymous enquiries for you.

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If you would like a recommended adviser to check out the best deals for you, anonymously, simply fill in the quick form below.

" Hmm..." You might think; "Won't I be hounded by a salesman hungry for my business? "

This is the most common question we hear from our users.

The answer is no you won't.

Firstly your enquiry is only passed to ONE person on a carefully vetted list of independent advisers.

Secondly, these mortgage advisers are professionals. Even when the market is slow they are busy people. There many people who need to move homes, or get a remortgage and are looking for advice all the time. Regardless of the state of the property market, life goes on.

So the advisers don't have time to hassle people. It just doesn't work like that. No one is gong to be forced into taking out a mortgage unless they really need one.

The advisers are very used to talking with people, perhaps like yourself, who are only "dipping their toes" into the water.

Many people just want an initial quick chat and if they feel comfortable will ask the advisor to contact them again later - often in several weeks or months. As a professional, the adviser will simply diarise this and call back at the appropriate time. There is no obligation at all.

(In the unlikely event that you ever feel at all "hassled" by someone on our list please let us know immediately. We have never heard of this. But if it happened we would definitely want to know).

 

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