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Home Inspection News

Hips for listed homes

I live in a listed building that is more than 200 years old. My property has been continuously marketed since April 2007, before the legal requirement for a home information pack was introduced. I was exempt from the need for a Hip, and remained so at each convoluted change of government regulations, although I have had to produce an energy performance certificate.

Are sellers in my position still exempt from having to produce a full pack? The cost associated with the preparation of a Hip for an historic building is considerable, and will make such properties even harder to sell than they have been thus far.

 

HIPs are selling sellers short

So the day has finally arrived and passed - April 6 2009. It wasn't only a landmark because it was my birthday (thanks for all the cards) but because now anyone selling a house must possess a Home Information Pack prior to marketing.

You may well think, as I did, that this isn't such a hardship. HIPs usually take about a week to come through and, though they cost about £300, potential buyers won't give it a second glance (less than 8 per cent ask to see a HIP, apparently). Consider it a bureaucratic annoyance, rather than something that could affect the sale.

 

Home information packs now required before a sale

The requirement for sellers to have a home information pack (Hip) in place when selling their home risks disrupting the property market at a sensitive time, estate agents have warned.

Until now, sellers have been allowed to market their properties without a Hip to show potential buyers, provided one has been commissioned. But from today all sellers, including those selling leasehold properties, must have a Hip from the outset.

Charles Wasdell, head of research at propertyfinder.com, said: "Sellers are already cautious in the current market and this will prevent people from testing the waters, and risks a drought of good saleable properties. The government should be trying to stimulate housing transactions, not tie the process up in more red tape."

 

Property Information Questionnaire Consensus

The initial consensus amongst Home Information Pack providers is that the Property Information Questionnaire (which as of the 6th April comes a compulsory document within a Home Information Pack) is a very simple form to complete. We don't disagree, it is very easy to complete but as with all multiple choice questionnaires can be very difficult to answer accurately.

Where the PIQ is concerned, the devil is most certainly in the detail. Many sellers will lured into reading a question one way when in fact the reality is that the question is asking something very different.

 

Market recovery warning over Hips

Property professionals have warned the housing market could be further slowed down by changes to the rules governing controversial Home Information Packs (Hips).

From Monday all sellers must have one of the packs in place before they can start to market their property, meaning they will typically face a delay of between three and five days before they can put their home up for sale.

 


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