Home Inspection Home

All you need to know about HIPS...

  • Increase font size
  • Default font size
  • Decrease font size
Frequently Asked Questions

Q&A: Home information packs

In June 2007 it will become compulsory for anyone in England and Wales who decides to sell a house or flat to put together a home information pack. The government has published draft regulations on the pack, setting out what it will include and how it will be put together. So what's behind the scheme and what will all this mean to you?

 

What are the Benefits to First Time Buyers?

  • First time buyers are the most vulnerable and least experienced participants in the home buying process.  They need hard reliable information to inform their decisions.  Home Information Packs will provide this
 

What's wrong with the current system?

  • Currently, one million pounds a day is wasted on failed transactions and buyers often spend hundreds of pounds on valuations, legal advice and searches on transactions that ultimately break down. By providing key information at the beginning of the process, Home Information Packs will prevent waste and significantly cut the number of sales that fall through
  • survey carried out when buying a home.
 

What will HIPs deliver?

  • Transaction Improvements by reducing the abortive costs to consumers and the industry as well as reducing the number of failed transactions caused by survey or valuation inspection finding. 
 

What are Home Information Packs?

The Government is introducing Home Information Packs in England and Wales on 1 June 2007 and anyone selling a property must provide potential buyers with a Pack. Every Pack will include an Energy Performance Certificate. The Packs will also include information such as searches and other legal documents. A Home Condition Report giving details on the condition of a property can also be included in the Packs on a voluntary basis.
 
  • «
  •  Start 
  •  Prev 
  •  1 
  •  2 
  •  Next 
  •  End 
  • »


Page 1 of 2