Apologies this is probably a daft question - but when the HIP comes in for all properties in a few weeks - does that mean the buyer doesnt need to pay for searches etc..?
Well said. It doesn't substitute for a Homebuyer's Survey conducted by a Chartered Surveyor which comments on the construction and functioning of the building. And neither does it substitue for a Structural Survey, as might be a good idea on an older property or one that has been subject to evidence of previous movement in the structure.
However it does contain a rather useful assessment of the std of insulation in the property (or lack of it).