What is a PIP Vault?

A PIP Vault is a digital dataroom to collate and store relevant property documents required for a house sale. Its purpose is to speed up the sale and make it more transparent. The site is a space to share all the information you, the buyer, the seller, and the seller’s conveyancer will need.

• It reduces the time between an offer being accepted and an exchange of contracts
• It helps the buyer make an informed decision before making an offer
• It improves the quality of the offers, with fewer sales falling through

As the driver of the whole sales process you, the estate agent, are the controller of the PIP Vault. You register with PIP Ltd, open the PIP Vault, advertise the PIP Vault on your property details and assign the conveyancers and buyer. You, the conveyancer and the seller can post information to the site.

Getting started and registration

There are various steps to getting ready to use PIP Vault. Ensure you read the ‘Getting started’ guide before going any further.

Please send an email to registration@piphome.co.uk for registration.

Opening a PIP

Any estate agent can register and open an account with Property Information Products (PIP Ltd). Estate agents can then open a PIP Vault for any or every property. Potential buyers are able to see the documents in the PIP Vault via a property specific link. These documents are split into a CORE PACK, OTHER DOCUMENTS and RESTRICTED ACCESS.

What can go in a PIP Vault?

See All Document Types

We’ve registered and I’ve opened the PIP Vault. What’s next?

1. Once your estate agency is registered and you open a PIP Vault, you’ll share it with the seller and potential buyers. Anyone can now see the posted information, provided they are registered with PIPs.
2. All parties who have seen the PIP Vault will be updated as any new documents are posted or documents changed.
3. You can see who has accessed the PIP Vault, at any time, and which documents they have downloaded.
4. Once an offer is accepted, you can post the Memorandum of Sale to the restricted access area, only visible to you, the seller, the buyer and their conveyancers.
5. The conveyancers can then use the restricted access area of the site as a document transfer site for all documents between themselves. The timelines of this are visible to you, the seller and the buyer.
6. The site sends updates to the buyer and seller keeping them briefed as the conveyance progresses.
7. On exchange of contracts the site will notify all the potential purchasers who have viewed the PIP that contracts have been exchanged and the property is no longer available
8. If the property is relaunched to the market, the interested parties will be notified accordingly

Posting documents

You, the seller’s conveyancer and at your chose the seller, can post documents in any area of the site, the Core Pack, Other Documents and Restricted Access area. The buyer’s conveyancer can also upload documents in the Restricted Access area.

Removal of registered estate agents

We reserve the right to remove registered estate agents at any time if they do not comply with our T & Cs or post inappropriate material.

PIPs creates fantastic value

• Reduces "exchange time" – fewer sales fall through
• Improves cash flow
• Improves client contact
• Identifies the "hot sellers"
• Gives you a unique differentiator
• PIPs creates fantastic value

Your clients not ours.

Throughout the process we are just providing the service to you for the benefit of your clients. Your clients remain your clients and we are not looking to take them on as clients of ours. Our relationship is with you the estate agent.

If you have any questions at all, please call us on 01952 983000.

What is a PIP Vault?

A PIP Vault is a dataroom that the estate agent can open for every house they bring to the market. The seller, the estate agent and you can post information to the PIP Vault at any time. Its purpose is to speed up the conveyancing process and make it more transparent. The site is a space to share all the information that is required for the conveyance.

• It reduces the time between an offer being accepted and an exchange of contracts
• It helps buyers make an informed decision before making an offer
• It improves the quality of the offers, with fewer sales falling through

The seller is sent a link to a digital copy of the Property Information Form and Fixtures and Fittings form as well as the Leasehold forms if required. The information posted to the PIP Vault can be seen by potential buyers via a property specific link on the estate agents details.

What is in a PIP Vault?

See All Document Types

How a PIP Vault works

1. When instructed to market a property, an estate agent opens a PIP Vault for that property.
2. When a seller appoints the conveyancer, they are assigned to the PIP Vault by the agent.
3. Once open, the estate agent, seller and the seller’s conveyancer post relevant documents to the PIP Vault.
4. Potential buyers register to see posted documents and download them if they wish.
5. All parties are updated when a new document is added or amendments made.
6. The estate agent can see the parties that have viewed the PIP and downloaded any documents.

Offer accepted!

Once an offer has been accepted, the Restricted Access area is used. Here access is controlled by the estate agent, who assigns access to specific individuals registered with the site, via their email. Those who can see the restricted access area are

• Seller
• Buyer
• Sellers Conveyancer
• Buyers Conveyancer
• Estate Agent

The site is now used as a document transfer site, up to the exchange of contracts and completion. The estate agent and both conveyancers can post documents to the site. All parties are notified when new documents are posted to the site.

If at any stage you have questions, the estate agent involved is the first person to contact. Otherwise please email enquiries@piphome.co.uk.