Home Information Pack Deadline-June 1st 07

infopremiere

I am getting rather nervous about the impending Home Information Pack legislation.

Why are Estate Agents keeping quiet about this?

Are they afraid of Vendors/Sellers using alternative means to sell their property e.g. Online Property Websites?

I have seen Online websites like propertybroker.co.uk and idproperties.co.uk offering to sell your Home without Commission!

They will also Offer a Home Sellers Package for less than £500.00 and also Market the Property too.

I have even seen Free HIPS offered by Estate Agents-
i'm afraid the Free HIPS sounds like a gimmick as the Estate Agent fees will be recovered with Extortionate commission!

Are there any other ways of Selling your Property for around £500.00 including the Home Sellers Pack?

I have heard of Estate Agents who may charge up to £1200.00 due to this confusing legislation!

Any views would be appreciated

dnwilliams

Do I detect that you may have your own property sales website infopremiere??
If I was looking for a property the last thing I’d want to do is trawl through the hundreds of private sales property websites, what a palaver that would be.

malko

the solution is simple. Add £500 onto you're asking price or if your someone who has lots of equity on your house (£30k plus) just take the £500 on the chin. Dont see what all the moaning is about to be honest

courtjester

I think that's about right Malko - the cost of HIPs will be deferred to completion and ultimately will end up merely as part of the price which the buyer ends up paying. And even so, I think that most people won't be worrying too much about an extra cost of around £450-£500 in the context of estate agents fees which already run into thousands.

And estate agents are hardly keeping quiet about this, all the agents advertising in our area have big notices on their ads telling people to sign up quick to avoid the HIP cost - it's just a marketing ploy to get more business now - after June, the tone will change dramatically for the same reason.

BettiePage

If you're buying or selling property and you're worried by £500 then something is wrong with your finances imo.

RHemmings

malko wrote: »

the solution is simple. Add £500 onto you're asking price or if your someone who has lots of equity on your house (£30k plus) just take the £500 on the chin. Dont see what all the moaning is about to be honest

Will adding £500 onto the asking price really raise the selling price by £500? The final sale price will be agreed between the buyer and the seller, and if the buyer isn't prepared to pay £500 more, then it won't sell.

lush_walrus

Hhhm, it isn't being kept secret by EAs at all, if anything they are all making it quite clear to people planning to sell their property this year to try to get their property on the market before 1st June to stop the need for it.

Most EAs have also done numerous courses to enable them to provide the service, and are including it in their fees to stop vendors panicing about what to do, who to go to etc. With regards to EAs putting their fees up, as always that will come down to supply and demand, as with any business!

If everyone includes the fee in their price, all that will happen is everyone will still pay the £500!

Anyway, talk to most EAs about it and 99% of them think the whole thing will be pretty short lived. All it is actually about is the government trying to find a way to collect the data requested by the EU. Once they have fulfilled that enough (I can't remember the actual quota they are trying to reach, but it is by no means every property in the UK).

Optimist

As far as I am aware these HIPS were a government conceived idea to simplify house sales.and I seem to remember it was going to help prevent gazumping.

However I really have no idea how it will do these things and as far as I can see will just add extra costs, not to mention an extra income stream to the exchequer .

Perhaps someone would enlighten me ?.

[Deleted User]

Optimist wrote: »

As far as I am aware these HIPS were a government conceived idea to simplify house sales.and I seem to remember it was going to help prevent gazumping.

However I really have no idea how it will do these things and as far as I can see will just add extra costs, not to mention an extra income stream to the exchequer .

Perhaps someone would enlighten me ?.

Hi Optimist - I think you are already enlightened!!!! I totally agree with you - HIPS will not help anyone selling or buying properties. But what it will do is provide more income for the government.