HIPs made easy!
Butler Sherborn takes the worry out of Home Information Packs.
19 September 2007
Published: September 2007
HIPs made easy!
Butler Sherborn takes the worry out of Home Information Packs
Home Information Packs (HIPs), which include Energy Performance Certificates, were introduced on 1st August for properties with four bedrooms or more, and on the 10th September this will be extended to homes with three bedrooms. There has been much confusion over the Government’s new HIP scheme and many homeowners are feeling frustrated by the whole process. However, Sam Butler, senior partner at Cotswold property specialist firm Butler Sherborn, thinks HIPs are a good idea and says they are straightforward, when you know what you are doing!
“It is early days for HIPs and we have found our clients to be initially quite cynical about them. However, as soon as we explain what needs to be done and why, they realise that HIPs are simply a necessary and valuable part of the selling process.
“Before HIPs, sellers still needed good particulars, good photographs and a good lawyer to do the legal work. HIPs serve as a consolidation of all these things, to ensure the seller has a pack that contains all the essential documentation to help the whole selling process go through smoothly.
“While HIPs are not yet fool proof, they go a long way to ensuring the work normally done after an offer is accepted is completed beforehand, thus helping to prevent an unnecessary period of uncertainty that can result in buyers and sellers changing their minds and for sales to fall through.
Butler Sherborn has taken all the worry out of HIPs for its clients by launching its own personalised service that goes further than that offered by many other estate agents.
Sam Butler explains: “We supply HIPs through P2, a local company that uses independent qualified chartered surveyors - or knowledgeable people with a local property background - as opposed to people from other professions, and from outside the area.
“We offer a standard HIP package (which solely meets the requirements of the HIP legislation), as well as one that includes much more useful information that we believe will more successfully assist the sale of a property.”
As much of the information required in a HIP already needs to be provided by a seller’s solicitor during contractual negotiations, P2 estimates that more than 75% of the total cost of a Butler Sherborn HIP would have previously been part of the seller’s legal costs.
In addition, Sam Parkes, managing director of P2, says: “As part of our commitment to producing effective and professional packs, P2 will bear a third of the direct costs of the additional searches and reports that are commissioned for our standard packs.”
But what happens if you have to pull out before your property is sold? This is not a problem. P2 is offering Butler Sherborn’s clients a specific insurance package to cover the cost of the HIP and other initial marketing and sales costs in the event of a personal accident, sickness or illness, which may cause them to withdraw their property from the market. The scheme is regulated by the Financial Services Authority and involves a minor additional fee.”
Sam Butler adds: “I am a real supporter of HIPs and think buyers and sellers will embrace them too when they see how incredibly useful they can be in closing a sale.”
Butler Sherborn and P2 have produced an informative leaflet regarding its HIPs packs; for a copy and for more information on HIPs or property currently being marketed by Butler Sherborn, please telephone: 01285 883740 or visit www.p2ltd.co.uk
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