Hips as we know were compulsory for the sale of your 4 bedroom home from August 2007. Now all homes for sale need a HIP before you are able to market the property for sale.
However, there are a few exemptions to the rules.
You do not need a HIP in the following circumstances :
1.Where you are selling to a member of your family
2.whereWhere you are selling to a neighbour or a friend where no “marketing of your Property has taken place
3. Non residential properties such as a shop
4. A Holiday Home, as opposed to a second property you may have which you rent out
5. Mixed Residential and Commercial properties such as a shop with a flat above
6. properties purchased from Councils or other social landlaords under the Right to Buy scheme
7. Sales of portfolios of properties. You may have read of the Landlords who are selling their portfolio of 700 properties. A saving of approximately £210,000
8. Sales where the property is sold without vacant possession i.e. where the sale is subject to a sitting tenant who will remain after the sale.
9. Unsafe Properties, presumably to protect the Energy Assessors from the potential of falling debris
10. Properties are also exempt if they are to be demolished and redeveloped
