Negotiation, Negotiation, Negotiation

UK Property Investment news and comments from Mark Harrison of YourPropertyExpert.com

Home Information Packs – alternative viewpoint

Posted by markharrison on November 23, 2007

And yet another angle on Home Information Packs, again prompted by my article on Monday.

I’ve had some feedback from an estate agent (who wished to remain anonymous).

In his experience, HIPs are, rather than making the process quicker, significantly slowing down the marketing and sales process. He explains:

There’s a transitional rule, whereby as long as we’ve applied for a HIP, we can start marketing the property. The trouble is with water surveys. Vendors used only to need them in order to exchange, so after a sale was agreed. Now they’re needed for the HIP, we’re having to order them on every property we put on the market, whether it’s withdrawn or not. Because of this, [the local water company] have a backlog of several months, and nothing’s completing.

From his point of view, it’s only going to get worse:

If this continues into the new year, when we’re not going to be allowed to market until the HIP report has been completed, we’re going to be in trouble. Can you imagine someone coming in and putting their property on the market, and discovering that 6 weeks later, we  haven’t yet been able to start. They’re going to blame us, or our choice of HIP provider, even though everyone’s in the same boat because of [Water Company]

3 Responses to “Home Information Packs – alternative viewpoint”

  1. Fran said

    I’m not at all surprised by this. I was very involved in HIPs until I escaped earlier this year: yes, you can get (useless) personal searches quickly, but the drainage and water was always an issue. Local authorities have really cleaned up their acts, but not the utilities. HIPs were a fairly good idea when first mooted. Now……!

  2. […] you had applied for a HIP. You then had a grace period of 28 days to get the HIP together (and with the exception of water companies, things pretty much […]

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