HIP Estimate

EXAMPLE ESTIMATE OF THE COST OF A HIP

Prepared for Mr A Client on 10th August 2007

This estimate relates to the preparation of a Home Information Pack (“HIP”) for a freehold/leasehold residence in England. It has been prepared in good faith but must be read in conjunction with the accompanying notes and the standard terms and conditions contained within the Kite Griffin Client Guide.

Retainer

Your Requirements: Provision of HIP for the sale of your property

Legal Services to be Provided by Us: HIP provision only

Timescale: As soon as practicable

Costs

* PLEASE READ THE IMPORTANT NOTES ATTACHED TO THIS ESTIMATE

IMPORTANT NOTES

To be read in conjunction with the estimate of the cost of a HIP

1. Freeholds and/or Leaseholds
• 1.1. The Payments to others referred to in this estimate are variable according to circumstance. The estimate gives a typical figure in a straight forward case. There is no guarantee that the actual cost will not exceed the amount estimated. We will do our best to ensure that the payments incurred on your behalf are minimised.
• 1.2. The preparation time of 30 minutes is judged to be adequate in straight forward cases but there may be complexities involved in relation to your property that will necessitate significantly more time being spent in compiling the HIP. Should that be so, we undertake to notify you as soon as reasonably practicable and to provide you with a revised written estimate accordingly.

2.Leaseholds
• 2.1. The HIP Legal Requirements include the provision, in the case of leaseholds, of further documents and information relating to the content of the Lease, of any superior Lease, information concerning any management company, service charge compilation and accounts, regulations and other matters. None of the information and documentation required should be unavailable to you. If you have it all to hand, there is no need for any third party costs to be incurred in the vast majority of cases. However, if your own papers and information are incomplete, then you may have to incur further fees, for example with managing agents, in order to procure the further documents legally required.
• 2.2 We will provide detail of any such additional costs as and when we can, if you decide you would prefer us to seek the further documents on your behalf (rather than obtain them yourself and forward them to us).

3. Generally
• 3.1. Our estimate is intended to include all reasonably foreseeable charges and payments likely to be made by ourselves on your behalf. It is given in good faith on the basis of the information available to us at the date of the estimate and upon the assumption that the relevant transaction or transactions will proceed without undue complication or delay.
• 3.2. We reserve the right, upon reasonable notice, to provide a written variation of the estimate at a later stage, in the event that the assumption referred to in the previous paragraph shall prove to have been inappropriate.
• 3.3. Unless otherwise stated, it is assumed that all property in question is registered land. In the event of a transaction proving to be of unregistered land, then the relevant costs figure will be subject to revision upon sight of the title documents or within a reasonable time afterwards.
• 3.4. We charge an additional fee at a commercial copying rate for providing copies of HIPs beyond the initial 3 paper copies. We do not generally charge for provision of electronic copies.