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Buying and Selling UK Property: Swaying The HIPs

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By : Brazg Gavin    99 or more times read
There were many talks last week about the suspension order had already been signed, plus, as an antecedent for lasting eradication, would be signed on Monday past. Yet, with all behind us now and not a word from anyone, it appears people who informed us that the talks were false were indeed right. So what now, will the HIP still get the CHOP?

Considering that both parties in the coalition have claimed how they would eradicate HIPs you can actually assume that it will be a foregone conclusion. That is certainly, if we didn't know how many times election claims ended up broken.

The Liberal Democrats and the Conservatives undoubtedly planned to make use of the clause that could permit them to suspend the Home Information Pack, but it looks they have found out this would not be allowed.

The legislation contained a clause that allows emergency suspension of the Home Information Packs it will be the cause of a drastic slowdown of the market. Nevertheless the latest Office of Fair Trading review stated that HIPs have been creating a beneficial impact, and thus this very likely was the reason why there will be use for the suspension clause, notably way too long following HIPs' introduction. In February, the OFT report stated:

"It could be argued that HIPs in their current form have a positive impact, and, We do not, therefore, recommend any intervention on this issue at the present time."

An immediate suspension of HIPs would also be a drastic move given how many people active in the new industry concerning their provision. It's quite possible the government was encouraged that an assessment period permitting them to stage their operations to other sections in an organized way was the ideal solution.

Lots of people have postponed their offers to sell, and, according to HIP suppliers some are actually requesting estate agents to break the law and market their property without a pack. It looks most likely that these sellers will now be waiting around at least 100 days, prior to the government's assessment period is over, and they determine what to do on the issue.

Nonetheless, the fact remains that since the clamor for the suspension of HIP has died down anything may transpire, and anyone putting off buying or selling a UK property to avoid the bureaucracy of swinging from the HIP can end up feeling sorry for what happens to be simply a futile waste of their time.
Gavin Brazg is editor of The Quick House Sale Advisory - UK's largest free resource of free expert advice for UK House sellers.

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