HIPS extended ...
17 August 2007, 12:04 PM
#1
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HIPS extended ...
Didn't take them long - 1st Aug. to 10th Sept. ... BBC NEWS | Business | Hips extended to three-bed homes
Strange - the original idea was to cut out gazumping. So why not just make the offer acceptance legally binding???
Dave
PS: Oh, I forgot. That wouldn't allow the powers to be to create lots more non-jobs that are able to nose about in our lives ....
Strange - the original idea was to cut out gazumping. So why not just make the offer acceptance legally binding???
Dave
PS: Oh, I forgot. That wouldn't allow the powers to be to create lots more non-jobs that are able to nose about in our lives ....
17 August 2007, 12:19 PM
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because at the offer stage the intended purchaser has no idea of whether the vendor is selling with clean title, whether the property is structurally sound, whether their valuer will rubber stamp their mortgage application on the basis of value (ignoring their personal circumstances for the moment) etc etc
you don;t own something until you legally complete on it. making an offer to buy something and having the offer accepted doesn't mean you've bought it -it means you've agreed to buy it subject to being happy with the detail.
PS i'm not assuming you don;t already know this dave, but i don't personally think offers should be legally binding without more detail being available. for instance, would you offer to buy a car on ebay on the basis of what's listed in the title (and not the description) and be happy for that offer to be legally binding?
the whole HIPS thing is just getting silly now. i can see how in theory this could be a good thing for the industry and for buyers and sellers alike, but it's more one bit of red tape IMHO
you don;t own something until you legally complete on it. making an offer to buy something and having the offer accepted doesn't mean you've bought it -it means you've agreed to buy it subject to being happy with the detail.
PS i'm not assuming you don;t already know this dave, but i don't personally think offers should be legally binding without more detail being available. for instance, would you offer to buy a car on ebay on the basis of what's listed in the title (and not the description) and be happy for that offer to be legally binding?
the whole HIPS thing is just getting silly now. i can see how in theory this could be a good thing for the industry and for buyers and sellers alike, but it's more one bit of red tape IMHO
17 August 2007, 12:28 PM
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Large Country House for Sale.
I bedroom but with benefit of office suite on second floor consisting of 4 good sized rooms and luxury bath or shower rooms for staff
I bedroom but with benefit of office suite on second floor consisting of 4 good sized rooms and luxury bath or shower rooms for staff
17 August 2007, 01:32 PM
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If the offer acceptance was legally binding, but you could pull out subject to survey or the buyer couldn't get a mortgage, for example, then gazumping as we know it would end.
Flaws?
Dave
PS: handed you your coat ......
17 August 2007, 02:09 PM
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I absolutely agree. BUT you as a puchaser will make an offer based on what you have seen so far - and that may be diddly squat. The seller can choose to accept that offer or not, as they can now. Their decision will be based on what they know of you and your financial position etc plus whether your offer is acceptabel ( cash offer compared to asking price but with a house still to sell, for example). The point about gazumping is that the seller accepts your offer then decides to accept another from someone else leaving you with no comeback, even if you have spalshed out for surveys etc.
If the offer acceptance was legally binding, but you could pull out subject to survey or the buyer couldn't get a mortgage, for example, then gazumping as we know it would end.
Flaws?
Dave
PS: handed you your coat ......
If the offer acceptance was legally binding, but you could pull out subject to survey or the buyer couldn't get a mortgage, for example, then gazumping as we know it would end.
Flaws?
Dave
PS: handed you your coat ......
lockout agreements would probably help, with some form of non-ref deposit if the buyer pulls out without good reason but the ability to get the money back if there is a problem with title, survey, mortgage-ability of property (not buyer)...i think we're on the same lines - i was just a bit slow picking up on your sarcasm
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17 August 2007, 04:10 PM
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HIPS are such a pants idea.
Apparantly my house is 48% ok on the energy front(if I remember the b/socs report).Told me what I can do to improve it and how many years it will take me to recover the cost.
Actually,I think it was scored something like 48/70 but then they translated it to 48%
.Sure the rest of their calculations are as great and trustworthy
I don't give a hoot if it is1% or 90%.
Apparantly my house is 48% ok on the energy front(if I remember the b/socs report).Told me what I can do to improve it and how many years it will take me to recover the cost.
Actually,I think it was scored something like 48/70 but then they translated it to 48%
.Sure the rest of their calculations are as great and trustworthy I don't give a hoot if it is1% or 90%.
17 August 2007, 04:55 PM
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Who is going to buy a house or not buy a house just because it is energy efficient? One of the things on the HIP is how many energy saving light bulbs it has. 
They can be replaced in 5 minutes anyway.
They can be replaced in 5 minutes anyway.
17 August 2007, 05:02 PM
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I'm taking the multi bulb light fittings with us anyway - they weren't exactly cheap either. As long as the fitting is replaced with a bog standard working light, its legal!
17 August 2007, 06:12 PM
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So are they just to show you how energy efficient your home is? as if that would influence a purchaser's decision?
If I wanted to buy somewhere I would, whether it was energy efficient or not!
If I wanted to buy somewhere I would, whether it was energy efficient or not!
17 August 2007, 10:34 PM
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there is more to the pack than that paul. the energy efficiency element is just part of the pack.
i would be interested to know how the avergae "chocolate box" thatched house compares with a modern property - you know; the type of thing you always see on photos of the isle of wight - compared to a new barratt house in romford or gillingham for instance
i would be interested to know how the avergae "chocolate box" thatched house compares with a modern property - you know; the type of thing you always see on photos of the isle of wight - compared to a new barratt house in romford or gillingham for instance
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