Home Information Packs

/Home Information Packs
Home Information Packs 2016-02-10T23:47:28+00:00

Home Information Packs (HIPs) are being introduced into the UK housing market from 1st June 2007. It is possible to sell your house quickly without a Home Information Pack (HIP) and we could help.  First, though, we will provide you with a little bit of information about them.

They are being used in order to help improve the home buying and selling process

by reducing the amount of time it takes to sell a property. It will also cut down on the number of failures that people experience when selling or buying.

The pack will include documents such as terms of sale, copies of any planning, listed buildings and any building regulations and also a Home Condition Report – this will be a report based on a expert survey of the property.

HIPs should help to raise the awareness of home owners and ensure that they understand the responsibility they have when it comes to reporting the condition of their home before they sell it. The Home Condition Report is an important aspect of HIPs – it covers all matter of things from the condition of the property due to its age, character and location through to any defects it may have. If this is adhered to then it may bring a stop to the problems that people are facing – finding faults that are having to be paid for after they have bought their new home. Statistics show that 18{ae7d4a37e988fa9ad92085a62b0a24bc9a95d8c563a676ca97eb82441adb386a} of buyers who relied on a lenders valuation faced unexpected repairs to their new property within the first four months of moving in. In 48{ae7d4a37e988fa9ad92085a62b0a24bc9a95d8c563a676ca97eb82441adb386a} of these cases the bill was £500 or more, in 17{ae7d4a37e988fa9ad92085a62b0a24bc9a95d8c563a676ca97eb82441adb386a} the bill exceeded £1,000.  Due to these problems at least one million pounds a day is thrown away in failed property transactions, and nearly 30{ae7d4a37e988fa9ad92085a62b0a24bc9a95d8c563a676ca97eb82441adb386a}of all transactions collapse after the terms have been agreed. Research showed that of all property sales only 2{ae7d4a37e988fa9ad92085a62b0a24bc9a95d8c563a676ca97eb82441adb386a}of buyers actually arrange a full structural survey to be carried out when they are buying a new home.

Introducing HIPs will begin to establish a new way in which we buy and sell properties. HIPs can be put together quickly and will help to provide buyers with a clearer insight into the property that they are buying. People can then identify and resolve their problems much sooner than they are at present.

We, The Property Buyers, do not require HIP’s. We deal with experienced buyers who do not need as much information – but they will pay for surveys and local authority searches. We have a network of over 50 buyers in the uk – so if you would like to know how we can help call us on 0800 0122334