hip

[Tizzi247]

Hope I have put this in the right section.

My flat has been on the market since April and due to the economic climate has not sold yet. I am thinking of changing estate agents in the future and I have already paid for the HIP to be done with the current estate agents. I was told that I own the HIP and it lasts indefinitely. What will happen with the HIP, will the new agents be able to obtain it? I don't want to pay to have another one done. Please help, many thanks

[redcrx]

not sure if you can transfer it but double check on how long it lasts as ive been told they need redoing ev ery 6 months.

[Tizzi247]

Thanks for the reply redcrx, it's appreciated.

[Eve]

Usually mortgage lenders (for the buyer) demand that searches are under 3 months old on completion.

There is a search indemnity insurance that can be put in place to cover the gap though and it usually costs about �25.00.

I'd say it would be fair, if the buyer's solicitor raises an issue over any out of date searches, to provide an allowance on completion for the indemnity premium providing you don't know of any issues which may have changed on the searches (eg the property has been served with a council notice etc...).

Usually it's a local search (planning and other matters), water and drainage, sometimes environmental though they don't tend to come in a HIP and coal depending on the area.

Make sure you have a few colour copies of the HIP (there will be colour plans in there) and if it's online only make sure that the weblink isn't taken down.

[Tizzi247]

Thank you Jenna, I understand it all a bit better now. Can I ask the current estate agent for the searches? All I have is a copy of the energy efficiency rating. Many thanks