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Posts Tagged ‘Companies’

Aug
22/10
Home Information Packs and Home Buying Companies
Last Updated on Sunday, 22 August 2010 02:13
Written by admin
Sunday, August 22nd, 2010

Sell your home to a house buyer and you will not need a home information pack (HIP). This means you avoid the delay, hassle and cost of compiling a HIP.

For more info on the HIP regulations read on.

What is a Home Information Pack?

Since 14 December 2007 a Home Information Pack has been required on all homes being marketed in England and Wales.
The pack provides information needed by home buyers at the start of the home buying process.
It includes much of the information usually compiled by a solicitor during the conveyancing process.
The burden is now on the seller to compile the info and produce the pack.

Essential Content of Home Information Packs

Index of Contents
Sale Statement
Evidence of Title
Energy Performance Certificate (EPC)
Searches
Leasehold/Commonhold Documents if applicable

HIP’s were designed to:

Provide info so that home buyers make informed decisions before offering
Reduce duplicated costs if more than one sale proceeds
Grade the energy efficiency of a home

What are the negatives of HIP’S?

Home sellers are now unable to test the market without committing cash
Delays caused because marketing can’t commence until HIP compiled
Much of the packs info is out of date by the time the property goes under offer. The buyer then has to repay for updated info.
Some lenders/solicitors will not accept the contents of a HIP and may demand their own information, so duplicating costs.
Cost of a HIP is an added cost to house sale process
If the property doesn’t sell the HIP and the money spent on it is wasted

Are there any exemptions?

Yes there are a few limited exemptions to getting a home information pack. The main of which is that if the property is not being marketed e.g. sale to quick sale company, then a HIP doesn’t have to be compiled.

You can avoid a getting a Home Information Pack in the following circumstances:

When no marketing takes place (e.g. selling to a family member or quick sale company)
Non-residential properties
Homes limited by law to use as holiday accommodation or for limited occupation
Mixed sales (e.g. shop with flat)
Right to buy and similar sales
Sales of portfolios of properties
Properties not being sold with completely vacant possession
Unsafe properties and properties to be demolished

How to pay for pack?

Our research has found that you can pay up to £600 for a HIP.

There are several ways of paying for a HIP:

Pay upfront- before marketing commences a HIP is commissioned and paid for
Financing until sold- normally interest is charged so you end up paying more
“No Sale No Fee” deal via an estate agent, where pack cost is included in final fee. However in current market agents have either withdrawn these offers or require much higher commissions to compensate for extra risk. There are also many restrictions e.g. not able to transfer HIP to another estate agent

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Jul
14/10
Real Estate Companies
Last Updated on Wednesday, 14 July 2010 05:13
Written by admin
Wednesday, July 14th, 2010

The tremendous response from the people to the Real Estate sector has lead to the generation of huge revenue today. It is estimated to be the second largest industry with the revenue of 12 Billion US $ and is further classified to reach the sate of 30% growth per annum. Looking at this tremendous growth one might think, what the reason for the growth of this sector is. A one liner answer to the question to answer would be Property. Ever since the ancient time, man has survived they needed land for any kind of transaction either related to the domestic usage or related to the commercial exploration. Hence land becomes a primary factor for the man to survive and this need today is explored by the Real Estate sector and hence there is huge revenue generated with the Real Estate industry. Now that there is demand there should be enough supply. Though there is property available not everyone specializes in the dealing in the property, either in the existing one or while the property requires tailoring to the customer’s needs. Hence solving this, there are companies that have emerged over a period of time. These Real Estate companies facilitate the transaction, making it smooth and easily accessed by the client for the Real Estate.

Looking at the progress today we find the Real Estate companies at every nook and corner of the road providing the best deals in the property in the market and safeguarding the rights of the client. These companies’ specializes in the clause of the property and hand hold the clients while they are either making an investment or any other transaction that relate to the property. These Real Estate companies not only provide an helping hand while the client makes a huge investment either to purchase a residential or the Real Estate companies but also hand holds the client while they make the smallest of the transactions that relate to the renting of the property with all the legal formalities and authorities that the client needs to file during the transaction. Specializing in property they also tie up with the various aligned industries like interior decorators, constructors, builders and among others that prove to be of an essential role while the property is purchased or sold in the market.

Aiming to prove as bless to the Real estate sectors these Real Estate companies are focused triggers to the Real Estate sector. Like every unit that contributes to the great house these Real Estate companies prove to a successful mile stone to the Real Estate sector. Providing the major revenue to the market they aim to gain profits and can prove to be major hand holders while there is a transaction in the property required. They are the people who help the clients to make an initial move in the market with their expertise and help them get the right deal in effective packages. Henceforth while making any transaction one can consider these options in the market and best suit their needs when it comes to the property.

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