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Thu, 20 November 2008 |
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Conveyancing News: Property Industry Attacks Free HIPs Offer |
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Article Published: 30-Apr-2007 Plans by estate agents Hamptons International and supermarket Asda to offer free Home Information Packs (HIPs) have been attacked by the property industry as being risky, as it still uncertain as to how much HIPs will cost. The average price of a pack has been estimated at between £300 and £500, rising to £700 if a non-compulsory home condition report is included. The pair has said that they will offer the packs for free following June 1st, when HIPs will become compulsory for all sellers. Asda plans to run a 6-month trial in England's Northeast called Homes@Supermarkets, part of its move into the property market. Hamptons International will offer customers who sell their homes with them a free HIP, so long as their property is kept on the market for at least 12 months. The Conservatives and Liberal Democrats say they will attempt to block the introduction of HIPs when the House of Lords deliver its report on Thursday. The National Association of Estate Agents, the Council of Mortgage Lenders and the Royal Institute of Chartered Surveyors, have also called for the introduction of the HIP to be postponed until pilot schemes can be analysed. Source: Conveyancing-0800.co.uk |
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