HIPs to be Scrapped
Bar to Marketing to be Lifted
Controversial Home Information Packs, that were required to be put in place prior to marketing any property are, we understand, to be scrapped. An announcement from the Government is expected later this morning.
Many home owners have been put off from marketing their property since the introduction of HIPs in August 2007; marketing could not commence until a HIP costing between £250 and £400 had been put in place.
Many vendors, who had traditionally been able to market their house to gauge the market’s reaction in order to decide if they would move or not, were dissuaded from tentative marketing on the assumption that their home may not sell for a price they would accept or for a price that would enable them to buy the house they had seen, ending up in them withdrawing from the market having wasted the cost of the HIP.
Sometimes the catalyst for a move is seeing the property you want to buy; you don’t know if your home will sell fast enough or for the price you need without trying and as most agents work on a no sale no fee basis trying meant you had nothing to lose, until that is you needed to pay several hundred pounds for a HIP. Today that bar to taking your home to the market looks set to be lifted, which means that at last the housing market can start to function normally again.
For further advice , information on the abolition of HIPs and a free valuation click http://www.thornleygroves.co.uk/valuation-request/