-roll-out-to-three-bedroom-houses-(and-beyond)/home-informtion-pack-lg.jpg)
Home Information Packs (HIPs) aim to give buyers more information. But the issue has divided the property industry. Take a look at both sides of the argument- then make up your own mind.
4Homes Essentials
Property Search
UK Region Ratings
Opponents, including Splinta (Sellers Pack Law Is Not The Answer), say HIPs will be a waste of time and money, while the Association of HIP Providers (AHIPP) believes otherwise.
Currently, in 28% of cases, homebuyers find a house, put in an offer, start the legal work and then further down the line something causes it all to fall through.
The next potential buyer who comes along will then go through the same process, spending the same money before the same issues arise again.
-roll-out-to-three-bedroom-houses-(and-beyond)/red-door-98-md.jpg)
HIPs will present most of this information earlier, improving the efficiency of the process and reducing both stress and the likelihood of gazumping.
Without the optional home condition report (HCR), the packs cost between £300 and £400 each, but this is money that is already being spent in the existing process, so it's not an additional cost, but a redistribution.
First-time buyers underpin the housing market and HIPs will prove especially beneficial for this vulnerable buying group who are currently forced to pay for the valuations and searches on a property, even if the deal falls through.
HIPs will improve the homebuying and selling process for all involved.
Check out the mortgage calculator, loans, credit cards & savings comparison tools
Tell us about where you live, & see if your area makes the top (or bottom) 20
Compare current rates on loans, savings accounts, credit cards & mortgages with this handy tool.jpg){kind=small}
Our presenter could be popping round to your house for a consultation and a cuppa
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 will be reviewed and the best ones will be published below.
If you intended to make an official comment to Channel 4 please contact us.
Comments