Beware rogue HIPs from unscrupulous Companies

The Law Society is warning of the dangers in not using a Solicitor when compiling a Home Information Pack (HIP) after a Trading Standards investigation highlighted serious flaws with Estate Agents' HIPs including inserting the wrong documents in the packs.

Birmingham Trading Standards officers investigated HIPs produced by Estate Agents and found they contained serious errors, including absent information and inaccurate dates for planning proposals. This means people believe that they are complying with the HIPS Regulations when, in fact, they may find that they are not. The worrying issue is that failure to comply with the Regulations carries with it financial penalties.

Law Society President Paul Marsh states:
'Unregulated providers have not the slightest understanding of the meaning let alone the importance of the documents that go into these packs. Their only concern is to make as much money as possible from the consumer.  It makes perfect sense in a slow market to use the time you have properly and instruct a Solicitor to compile your HIP as they understand the Regulations and can therefore ensure the HIP meets the required standard.

All the research shows that instructing a Solicitor early on in the transaction will speed up the process of selling a property significantly and ensure it runs as smoothly as possible.'

Newsome Vaughan LLP is committed to constantly improve the service offered to our Clients and we are best placed to ensure your HIP is fully compliant with all the Regulations and professionally prepared.  It is also important to remember that if an Estate Agent prepares the HIP it will belong to them. Therefore, if you are not satisfied with your Agent and wish to change, you may incur additional costs in obtaining a second HIP.

If you instruct Newsome Vaughan LLP to produce your HIP in-house at really competitive prices, the HIP belongs to you.  As Solicitors, we are regulated by the Solicitors Regulation Authority who monitor us to make sure we comply with the Rules and take regulatory action where necessary.  Contact us first before you instruct an Estate Agent for a competitive quotation to provide the HIP and to deal with the conveyancing work by e-mailing Jane Ball (janeb@n-v.co.uk) or telephoning Jane on her direct telephone number 02476 234226.