MSE News: Home Information Packs scrapped

housesitter

heffsta wrote: »

Is that not the definition of a free market?

More competition equals better prices, more choice.

People will pay what the house is worth, seller wont sell it at that price, they have the choice of other properties.

A friend of a friend recently found themselves having to argue with their EA about lowering their asking price for a house they have for sale which has not had a viewing in 6 months.
The EA were very reluctant to reduce the price. I can only assume it's because it will have a knock on effect to the rest of the houses in the area and the EA will be losing profits.

Prices are not wholly set by the market.
EA's have a rather nasty hand in keeping prices high.
It's utterly in their own self interest.
They've made massive profits over the last decade as HPI has rocketted, so do you think they are eager to see the back of that?

When 3 EA's give a price on a house in a range from 200K to 220K which do you seriously think most people would choose to market with ??

xdaisyx

I only paid for one on Tuesday, im wondering if i should cancel the cheque?

I cant seem to get in touch with the Estate Agents to see if its been done or whether they wait for the cheque to clear!

kprice580

OMG!

I have just this minute received the invoice for my HIP pack through the post!?!?

mmillie

As someone who has recently gone through the moving process, I agree that HIPs are a complete waste of time. Why?

1) No-one changes their house buying decision based on an energy certificate. It isn't like fridges or TVs where the rest of the features are similar. With houses, so much more varies between two houses that the energy certificate just isn't useful. A personalized plan to improve the energy efficiency would be useful, but that wasn't part of the HIP

2) The searches are not trusted. If you sell quickly, the searches won't be done in time (HIP providers do it on the cheap and take ages to get searches in my experience), and if you sell slowly the searches can't be relied on any more. It's just doubling the number of searches that need to be done.

3) There is no survey included, so you have no idea if there is a problem with the property that would put you off buying.

HIPs were therefore a complete waste of money. They created an industry that wasn't needed, adding cost and inconvenience for everyone in the chain.

Personally I hope they do a proper reform of the housing market. Very few countries have this long drawn out process where anyone can back out at any time. In some countries you are committed to buy when you make an offer, and one side needs to compensate the other if you pull out. In some countries you actually buy straight away and the current owner rents from you for 3 months while they find somewhere. There's lots of better solutions that work well elsewhere, but England's system is just rubbish, and HIPs were a far too timid attempt at reform.

Martin

Richard_Webster

The Energy Inspectors will still be OK because the EPCs are still being required for each sale.

They will deal direct with solicitors, estate agents and the public and the whole HIP Pack industry will be swept away - that was the waste and unnecessary creation of the last government.

Don't ask me what real use the EPCs are, because I don't know.

2012

For people who have just purchased a hip pack i feel this is very unfair as this had to be done before a property could be put on the market and feel these fees should be refunded.

Wee_Willy_Harris

2012 wrote: »

For people who have just purchased a hip pack i feel this is very unfair as this had to be done before a property could be put on the market and feel these fees should be refunded.

Quantify "just".

mmillie

2012 wrote: »

For people who have just purchased a hip pack i feel this is very unfair as this had to be done before a property could be put on the market and feel these fees should be refunded.

I don't like HIPs (see above), but in this case, the HIP provider has actually done some work. Don't the deserve to be paid for that work?

Martin

cjmumto2

I am glad, I have been wanting to put my house on the market to see what we would get for it as the prices vary wildly around here. If I can get the price I want I will move and if not I shall stay put and saved myself £400

M.Holloway

HIPs are now completely obsolete.

If you have one it is still valid, however. As all that is required is the EPC.

What will be interesting is to see how the cost of an EPC + Conveyancing increases to cover the money lost by this HIP abolition. http://www.do-i-need-a-hip.com