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How to fund your Home Information Pack
These Conditions apply to Jobling & Knape’s offer to assist in the funding of the up-front costs of a HIP.
Jobling & Knape is prepared to fund for you the provision of a HIP for the sale of your property on the following Conditions. In these Conditions the following words shall have the following meanings unless the context requires otherwise:-
“Additional HIP Contents” - such additional information (if any) as you authorise and instruct us to put into the HIP (at your entire discretion) and which may legally form part of the HIP, but is not a compulsory element of the HIP.
“HIP fee” - the amount of the cost to us of assembling the HIP including (by way of example and not as an exhaustive list) the cost of our time and any money we pay to third parties in order to assemble the HIP.
“the HIP” - such Home Information Pack as is legally required to enable you to market the Property.
“the Property” - the property for which the HIP has been prepared.
1. You instruct us to deal with the sale of the Property on our standard Terms & Conditions and at a fee to be agreed between us. Please note:-
1.1 That this will not stop you withdrawing those instructions at a later stage and will not inhibit you in your choice of Solicitor or other Conveyancer. Clause 5.2 below will apply upon the withdrawal of your instructions from us.
1.2 We will not take any step in the preparation of the HIP until you have had an opportunity to consider our Terms & Conditions and Client Care Information (which will include costs information) and have confirmed either expressly or by implication that they are accepted. Your acceptance of our Terms & Conditions and Client Care Information will be implied if, after you have received them, you continue to instruct us in the sale of the Property.
2. You irrevocably authorise us to incur the HIP fee required for producing the HIP you require to enable you to market the Property.
3. You agree that the HIP fee will be a debt owed by you to us and, in consideration of our incurring the HIP fee, you promise to pay us the HIP fee in accordance with these Conditions.
4. You irrevocably authorise us to deduct the HIP fee from the proceeds of sale of the Property.
5. You agree to pay us the HIP fee on the earliest of the following dates, assuming we have not already received payment under Clause 4 above:-
5.1 A date 9 months after the date we produce the HIP for you;
5.2 Forthwith upon your withdrawing instructions from us to deal with the conveyancing on the sale of the Property;
5.3 Forthwith upon our ceasing to act for you in connection with the sale of the Property other than under the terms of Clause 5.2 above but only for a valid and reasonable reason (for example your failing to give us adequate instructions);
5.4 Forthwith if it was ascertained that there would be insufficient net proceeds of sale left on completion of your sale (after paying off any mortgages, estate agent’s fees and legal fees). As a matter of course we will check for you how much is required to pay off your mortgage (if you have one) so that you will know in advance if this is likely to happen.
6. You can, if you wish, instruct us to add to the HIP, Additional HIP Contents. If you do so, we will tell you in advance what additional cost would be involved. You will be free to accept or reject the additional cost estimate. If you accept it, we will supply the Additional HIP Contents. The notified cost of supplying the Additional HIP Contents will be added to the HIP fee and treated in the same way as the HIP fee.
Contact Jobling & Knape with your HIPs Funding T&C's question: