Do I really need a HIPS?

[lulu_bucket]

Decided to sell my house as moved into another house as got married and living in that one! Now want to sell. Someone who knows the house in the village has approachd me to ask me if I will sell to them so not putting on the market etc. Surely I dont need a HIPS - do I ?

[dothawkes31]

I think if they are likely to need a mortgage then you would need one, but you can do some research and see if you can do one yourself.

[Eve]

You should only need a HIP if the property is marketed, not for a private sale.

Even if no HIP is needed, you will need to supply an EPC (Energy Performance Certificate).

[Eve]

On the mortgage point, a HIP is irrelevant.

Most lenders require searches (local and drainage, possibly environmental, coal if required and any specialist as appropriate eg Cheshire Brine, Cornwall Tin) which are under 3 months old at completion.

Indemnity insurance may be an option though, depending on the lender, for no or out of date searches (HIP searches can be 12 months old but most lenders require them to be under 3 months old at completion).

In any event, if there is no requirement to provide a HIP, the liability for searches and the costs (save the EPC) lies with the buyer.