Base Property Specialists

The easiest way to win an instruction in property is to over-value it. Money is an easy way to trick Vendors into instructing an agent but remember- just because an agent tells you a price doesn’t mean they will get it for you. Research the market yourself before the agents attend or, in hindsight, research their valuations and see what is available- visit the major property portals such as www.findaproperty.com or www.rightmove.co.uk as well as sold price sites like www.nethouseprices.co.uk. Be honest with yourself- whilst an extra £50K might sound nice, is it realistic? Equally however, don’t be fooled into down-valuing your property for a quick and easy sale. If you are in no particular rush you can afford to test the market at a slightly higher price and move on from there.

Base Property Specialists - London

Base have teamed up with ‘my sale pack plc’ to offer an easy, affordable HIP solution.‘HIPs will include the Index, EPC (Energy Performance Certificate), Sale Statement, Evidence of Title, Searches and, where appropriate, a copy of the Lease or Commonhold information.These documents bring information up front in the home buying and selling process reducing the risk of problems emerging later on that cause wasted money, time and energy. This will allow less time for additional problems to emerge and will reduce the number of sales which fall through and in turn reduce the number of chains which collapse.’Below is a brief description but to find out more contact base or pop in and visit one of our sales team.

Opal HIP

A low-cost digital version with prices starting from just £349*.

This pack includes:

• 2 X Digital Copies
• Energy Performance Certificate (EPC)
• Mandatory Searches & Reports
• Legal Review

This pack must be bought up-front by credit/debit card.

Spectrum HIP

Slightly more expensive, this option offers a printed version to accompany the digital copies as well as a choice of finance options including ‘No Sale No Fee’ (terms & conditions apply). From £425*.

This pack includes:

• 1 X Hard Copy
• 2 X Digital Copies
• Energy Performance Certificate (EPC)
• Mandatory Searches & Reports
• Legal Review
• No Sale No Fee- Refund Scheme (Terms & Conditions Apply)
• Payment by credit/debit card
• Interest & Repayment free (free for first 9 months can then automatically extend to 36 months @ 9.9% APR

Additional reports and services, available at extra cost include: Home Condition Report (HCR), Chancel Repair, Clay, Coal Mining, Commons Registration, Environmental Report, Highways Agency and Neighbourhood & Local Community Report.

*Leasehold properties carry a surcharge of £25 and all prices are subject to VAT.

EXCEPTIONS-

Exceptions are intended to ensure that sales that are not part of the ‘standard’ housing
market are unaffected by the HIP duties, although some apply specifically to properties
which were already on the market when the HIP duties commenced. There is also a
temporary exemption from the duty to have a pack in place before marketing begins
but only where the required documents have been requested.

Properties marketed before the commencement dates:
There is special provision for excluding properties marketed before the HIP duties
came into force for a particular category of property:
1 Aug 2007 — sales of homes with four or more bedrooms
10 Sep 2007 — sales of homes with three or more bedrooms
14 Dec 2007 — sales of homes with one or two bedrooms

Residential properties not available for sale with vacant possession:
Where a residential property is not available for sale with vacant possession HIP
regulations will not apply. However, this exception will not apply where two or more
dwellings in a sub-divided building that was originally built as a single dwelling are
being marketed as a single property and one or more is not available with vacant
possession.

Seasonal and holiday accommodation:
There is no requirement to provide a HIP where there is a planning restriction which
either limits the occupancy of the property to 11 months or less in a 12 month period,
or limits the use of the property to holiday accommodation.

Mixed sales:
The duty to have a HIP does not apply to a ‘mixed sale’. This applies where a
residential property is marketed for sale as ‘ancillary’ to (i.e. is intended to be occupied
and enjoyed with) one or more other buildings or areas of land used for non-residential
purposes. Examples of mixed sales include a farm house sold with agricultural land and
buildings, or a property consisting of a shop on one floor and a flat above it. The
exception for a mixed sale only applies if at the time of first marketing, the marketing
material makes it clear to potential buyers that the seller only intends to accept an
offer for the property as one lot.

Dual use of a dwelling/house:
The HIP duties do not apply to properties that have a ‘dual use’ and can be used for
both residential and non-residential purposes simultaneously. An example of dual use
would be a house that has been divided and where one part is used as a dentist’s
surgery and the other part serves as the dentist’s home.

Portfolios of properties:
Duties do not apply where one or more residential properties are marketed for sale
together if the seller does not intend to accept a sale in isolation from the others, and
it is clear from marketing materials that offers will only be accepted for the complete
portfolio.

Unsafe properties:
A HIP is not required when marketing an unoccupied property that is unsafe, posing a
serious risk to the health and safety of potential occupants and visitors, and this is
made clear in the marketing material.

Properties due to be demolished:
A Home Information Pack is not required when marketing a property intended for
demolition and redevelopment. This applies where the relevant planning permission
has been obtained.

Park homes:
Park homes are not treated as ‘dwelling houses’ under the terms of housing legislation
and therefore fall outside the scope of the HIP regulations.

New Builds:
Although sales of homes built to the most recent Building Regulations (Regulation 17C,
Part L, 2006) are currently exempt from the need to have a HIP, this is set to change
later in 2008. For more detailed information on new builds, click here.

NOTE: The above is only intended to be an indicative list of the circumstances under
which HIP regulations do not apply. For detailed information on exceptions the above
should be read in conjunction with:
- Home Information Pack Regulations 2007 Procedural Guidance
- Home Information Pack Guidance for Enforcement Officers

Source: ‘DCLG Website’- http://www.homeinformationpacks.gov.uk Released 16.01.08

To discuss in further detail and arrange your HIP contact the base sales team.

Thanks to our trusty friend Motley Fool [1], we can relaese the following figures:

‘Nationwide reported a 0.5% dip in house prices this month, bringing the annual rate of house price growth down from 4.2% to 2.7%. That means prices fell by an average of £38.45 a day in February, pulling the average price of a property in the UK down from £180,473 to £179,358.

No! says property website Rightmove.co.uk. This site, which advertises property for more than 90% of Britain’s estate agents, claims there was a 3.2% jump in asking prices in February and a 5.8% increase over the past year - and that average property asking price is more than £7,000 higher than last month, at £237,836.

But remember, that’s the asking price. Perhaps sellers’ expectations are still out of kilter with the slowing market?

Not according to the Land Registry, the government body which lists the actual prices paid for property in the UK. It hasn’t yet published its February figures, but announced earlier this month that prices rose by 0.9% in January.

Whilst this might seem all a bit confusing and contradictory I think it is Land Registry results that should be followed most

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