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Rapidmove UK Limited - Faqs - Text Only accessibility | keyboard only | navigation | contact info | graphics version | site map Frequently Asked Questions [FAQs]
General How long are the documents including searches likely to be valid for? Most Lenders will accept search results that are less than 6 months old although the government regulations are stating that searches should be no more than 3 months old when included within a HIP. It is possible to take Insurance at a nominal cost to verify the contents of the searches beyond those time limits. EPC's are valid for a period of 3 years. In our Platinum Packs including HCR's Home Inspectors confirm that they are happy to give an updated overview to be added onto the report at a nominal cost should the house be unsold for more than 6 months. We trust that once the market improves and sales are negotiated quicker, some of these additional items may not be required as overall speed will be improved. Do I need to complete property information forms online? New TA6 Property Information Form (2nd Edition) and TA7 Leasehold Information Form and a TA10 Fittings and Contents list plan to be available from 6th April 2009. These will supplement the Property Information Questionnaire (PIQ)already included within your Home information Pack. Is there a concern that a buyer may sign a contract in the pack and suggest they have exchanged with us? The Rapidmove pack will contain a Sale Statement, which will contain details of the type of property, whether it is registered, the owners and how they sell the property and whether it is vacant or occupied. Only when the selling agents and we are certain that the Buyer is genuine, will a paper copy of the Contract be forwarded by the Sellers solicitors or licenced conveyancers to the Buyer’s legal team for their signature in the usual way. What if I decide after removing my property for sale that I want to proceed at a later date? The HIP will not need to be renewed provided that the property is put back on the market within 6 months of its initial marketing, except where a sale falls through where even if more than 12 months has elapsed there is no need to renew as long as the property is back on the market within 28 days of the sale falling through. How can I pay for my Pack? The quickest and most secure way to pay is online using our encrypted PayPal system or by credit card. However, cheques are also acceptable made payable to Rapidmove (UK) Limited. Once your details and payment method has been accepted we can immediately begin the preparation of your pack. What is Title Insurance? Title Insurance is a product which removes the delays caused by defects in the title which may not have been discovered previously and which may affect the speedy sale of the property. We are currently working with Title Insurers who will enable us to cover each pack for unforeseen defects in the title which may affect or delay the sale or value. Why choose Rapidmove? Not only are we one of the first providers to have produced an electronic HIP, and were part of the Governments Early Adopter Scheme prior to August 2007, we are experienced and independent property professionals who aim to provide a quality pack with outstanding service to our clients. We are well known and trusted by local Estate Agents and Solicitors so you have confidence in our ability to deliver. We are a local firm who value our clients and partners in this enterprise. What are the benefits of a HIP from Rapidmove? Speed, accuracy, control and certainty. You can purchase a pack and take it with you to your chosen agent or advertise the property yourself. We expect our packs to be one of the the best on the market. We also offer a range of options to suit you. These include the type of pack and payment options all geared to your individual requirements or if you are a partnered firm, your business. What is an Energy Performance Certificate This assesses the Energy efficiency of the property for sale, and includes such things as heating, construction, ventilation, insulation. What if I am unsure about what I am leaving as I don't have a buyer yet? As the Fittings and contents Form is only an authorised document, you do not need to complete this when the property is first marketed and this can be removed from the pack and completed with your legal team once a buyer has been found. Home Condition Report What is the Home Condition Report? It is an impartial report on the condition and energy efficiency rating of your property. It is similar in length and format to a RICS Homebuyers report. It will draw attention to defects and rates them within 3 categories ie needing urgent attention and likely to affect the saleability or value of the property, matters requiring attention within 6-12 months which could affect the value or fabric of the property and purely cosmetic matter of a minor nature. It will also assess energy efficiency, loft insulation, double glazing for example and will provide guidance of ways in which you can improve the SAP rating. What if the HCR down values my property? The HCR will not contain a valuation of the property only a recommended Buildings Insurance figure for rebuilding. The HCR does not wish to affect the freedom of parties to negotiate based upon demand and property for sale in sought after areas. What if the HCR detects problems with my property? You can then discuss with the Home Inspector and your Agents whether it would be prudent to remedy the problems yourself, prior to sale and achieve the best price for the property or alternatively you could consider obtaining estimates for the works to be carried out and adjust the sale price to reflect the work thereby still obtaining control of the marketing and price. It means that there will be no nasty surprises for you, or for the buyer at a later stage. Will my buyer’s Lender accept the contents of the HCR? The government are discussing with the Council for Mortgage Lenders this scenario but it is generally agreed that as most buyers do not undertake a detailed survey when they buy property the HCR gives the lender more information that it would otherwise obtain. Also, as many Lenders now carry out desktop valuations using their own indices depending on the buyers borrowing (Loan to Value) many Lenders are considering that they would be happy to accept this information. If a buyer requires less than 75% of the value of the property this is more likely to be the case. Some Building Societies may still need to carry out their own limited valuation for their records and to comply with the rules which govern them. Home Information Pack What do I need before I can market my property? You must have a pack which contains the following items before you or your estate agent can market the property:- What will a HIP contain? The regulations now provide that from April 2009 a basic pack will contain Do I need a HIP now? Do you need a HIP for every transaction? No, only residential properties (freehold and leasehold) in England and Wales will be subject to the legislation. The regulations provide exemptions for seasonal and holiday accommodation, conversions or lettings under a Lease, mixed sales, and portfolios of property. Also included are unsafe premises and those to be demolished How much will it cost? A Rapidmove pack will cost, for freehold properties, £315 all inclusive. Estimates for a full pack including HCR are in the region of £600. Leasehold sales will be slightly more due to the cost of obtaining additional information including the Lease and Freehold title. We are also currently working with Home Inspectors to work on a scale of charges for Home Condition Reports based on the sale price of the property. What if I decide to take my property off the market? Who owns the pack? The Pack will remain the property of Rapidmove if you have not paid for the pack upfront. If however, you wish to have a pack prepared and then select an Agent either through our linked partner firms or indeed market the property yourself you can pay the full cost of the pack and take the contents with you either as an electronic document saved to mini-disc or memory stick or in paper form should you wish to do so. Has the pack content now been set by the Government? The Regulations were published in March 2007 and have had amendment regulations published in the transitional period since then. The CURRENT contents are now known. I thought HIPs were no longer required! Not true! It is true that the government have decided that due to the lack of Home Inspectors and the unease surrounding HCR's they would trial the reports prior to full implementation at some later stage. You will still need a pack to sell your property from August 2007 but this will not have to include a HCR only an Energy Performance Certificate together with authorised documents contained within the Regulations. Glossary of terms more? Useful Links Land RegistryRevenue & Customs The Law Society Bank of England UK Street Maps Environment Agency Navigation home | company | contact | links | hip | news | faqs | partners
Contact Information Rapidmove Uk Limited, 38 Wentworth Drive, Whitestone, Nuneaton, Warwickshire, CV11 6LZ, United Kingdom Tel: 024 76 348126
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