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Why Home Information Packs (HIPS) Donít Work



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With all the turmoil in the world economy over the last 12 months the introduction of home information packs couldnít have come at a worse time.

Home information packs were introduced to smooth the house sale process, reduce costs and improve energy efficiency. However it has become clear that the HIP's experiment has failed.

Few examples of the negative impacts of HIP are:

  • Home sellers are now unable to test the market without committing cash
  • Delays caused because marketing canít commence until HIP compiled
  • Much of the packs info is out of date by the time the property goes under offer. The buyer then has to repay for updated info.
  • Some lenders/solicitors will not accept the contents of a HIP and may demand their own information, so duplicating costs.
  • Cost of a HIP is an added cost to house sale process
  • If the property doesnít sell the HIP and the money spent on it is wasted.

One of the main components of the home information pack is the energy performance (EPC). In these environmentally aware times we cannot ignore the contribution our homes make to our carbon footprint. However the EPC may not be the best vehicle for energy efficiency improvements. The idea is sound but as with so many government inspired schemes it is let down by its implementation. It doesn't make economic or environmental sense to employ an inspector to undertake a separate property visit when most buyers instruct their own property Surveyor. Why not save the paper, petrol, time and money involved in duplicated property visits and make energy efficiency a section of any Survey undertaken.

The HIP experiment started off as a comprehensive attempt to improve the house sale process in England/Wales. However it has ended up increasing red tape with all the associated delays and costs normally associated with Government meddling.

A review of HIPs is desperately needed however it is doubtful whether the Government will be forced into a u-turn at an already desperate time.

For more info about home information packs and how you are exempt from compiling one if you sell to Quick Move Now visit http://www.quickmovenow.com/


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