Sellers failing to purchase HIPs
August 2008
An investigation by the Law Society has revealed that many homes currently on the market do not have a Home Information Pack prepared despite them being made mandatory just under a year ago.
It seems that because of the current housing market slump, sellers don't want to pay for a HIP without having a firm sale in place. This has meant that after an offer has been made solicitors are waiting weeks to receive the packs which by law, should include certain information about the property and be compiled prior to a house going on the market. Some statisics claim that up to 10 of properties are being sold without a HIP having been prepared.
The HIPs have caused controversy since being proposed and the piecemeal way in which they were introduced might be part of the reason why homeowners themselves are reluctant to take them up.
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