Home Information Packs

Worried

Do you think these will have any effect on the number of properties marketed in June 07 and the following months? We're trying to decide whether to start looking for a property this spring or wait until Autumn. OH see's the introduction of HIPs as an advantage, but do you think people will be put off marketing straight after their introduction? I'm worried there may be a flurry to market before they are introduced and then people will sit back and see how it all works once they are introduced and there will be no houses to view, just when we're looking to buy?

Also, would it be neccessary for the buyer to have a full structural survey on a property, or is the home condition report extensive enough, or does it depend on what the condition report says, as to whether further investigation is needed?

mystic_trev

The HCR has now been dropped from HIP's making them a waste of time and money.One of the reasons thet've been brought in is the need for the Energy report / survey which is an EU directive!

zag2me

Without the HCR they are pretty useless.

Worried

So I shouldn't worry too much about their effect on the number of properties coming onto the market? And I should still budget as before, for surverys etc?

adr0ck

the number of new properties coming onto the market will definitaly fall...there is no question about this

adr0ck

prices will start to rise even further due to this

supply and demand

cheers Tony

Richard_Webster

As a conveyancing solciitor my concern is whether there will be enough people out there by 1st June qualified to do these Energy Efficiency Reoports that are a vital part of the HIP!

There may be delays in providing these and that won't help.

Richard_Webster

As a conveyancing solicitor my concern is whether there will be enough people out there by 1st June qualified to do these Energy Efficiency Reports that are now a vital part of the HIP!

There may be delays in providing these and that won't help.

The Home Condition reports are effectively sunk without trace whatever the government may say.

Catmeister

I think it's probably common sense that there will be a rush of houses going onto the market but before the deadline - for example we're going to go on the market in May rather than our desired July/August because it's an easy way of saving a £1000. Naturally because of the potential rush, this would be followed by a lull in the traditional hot selling months of July and Aug. As there will probably be loads of property on the market just before the deadline, this may result in a buyers market, however vendors would be pretty foolish to accept a lower offer just to get away from spending on a home owner report which may work out cheaper!

rebeccaj

although you are putting it on the market then, if it doesn't actually sell in May then surely you are going to need one anyway

Catmeister

Interesting point - I thought it was only compulsory for vendors entering the market June or later?

Just checked out some info on the gov site which states "From 1 June 2007, all home owners in England and Wales will need to prepare a Home Information Pack before putting their home up for sale." (quote)

Does anyone know for sure what the rules are? Only glanced at the leaflet on the website - will ring tomorrow...