Home Information Packs (HIPS) are kicked into touch!
By The Beresfords Marketing Team - 21 May 2010
Home Information Pack commonly known as HIPS were introduced a few years ago supposedly to speed up the moving process.
Despite fierce opposition from those working within the industry the Government at that time chose to push ahead regardless. However with the recent political changes at Number 10 the new coalition has moved swiftly to suspend HIPS immediately with a view to their permanent removal in due course. The energy efficiency rating is still required but the great news is that it isn't required 'prior' to marketing a property.
This is great news especially for those homeowners who have put off moving because of the costs involved of arranging a HIP!
The market is currently very strong with high demand from serious buyers prepared to pay good prices for properties that meet their needs
Managing Director Paul Beresfords quoted,"'Since HIPs came in, we have found only a handful of potential buyers asking to see the information before making an offer. As this was the fundamental argument for their introduction, they just haven't worked. Instead, we got unnecessary red tape that meant people couldn't put their property onto the market when they wanted to, they had to wait for the HIP to be put together, and this led to considerable frustration for sellers so I don't think too many people will be disappointed to see them go'."
Therefore we encourage those effected to arrange for their properties to be re-valued by their local Beresfords branch at the earliest opportunity.