The home information pack brings together, at the very start of the process, important information which used to be collected piecemeal in the days and weeks after an offer was accepted. This aims to:
The person marketing the property is responsible for ensuring that the pack is available. This will normally be the seller's estate agent, but could be a builder, property developer, solicitor, or the seller if he or she is marketing without an estate agent.
There used to be quite a high rate of failed transactions; also the delays and other problems during the period between offer acceptance and exchange of contracts caused both buyers and sellers endless amounts of stress.
The government hoped that it would, significantly, but that remains to be seen.
It will cost approximately £700.
Sellers will not necessarily have to pay for a home information pack up front. Some may be able to defer payment until the property is sold.
Unlikely to do so on its own, but so far it remains to be seen. Watch this space...
So far, this doesn't appear to have been a problem, due to the economic downturn in the UK property market.
Your Comments
Post your comment
Please note: In order to post a comment you need to be registered and logged in to Channel 4:
Sign In Here or Register Here
Comments closed
Comments are closed at the present time
Comments
Thank you for your comment!
Your message should appear below in a few minutes time. If it doesn't, it probably means we're reviewing the content of your comment. Providing the content is OK for us to publish, you should see it on the site within 24 hours.