HIPs Happening

Wakefield Express - 13th April 2007

The largest single change to the process of buying and selling property happens on the 1st June 2007.  From this day onwards it will be illegal to market almost all residential properties in England and Wales without providing a Home Information Pack (HIP) as detailed in new Government legislation. 

The Home Information Pack will contain proof of ownership, details of the seller, a local search (or proof that one has been applied for) and an Energy Performance Certificate (EPC).  At Manning Stainton we welcomed the introduction of the packs which will give buyers more information early in the process and hopefully lead to quicker transactions and a lower fall through rate. 

However, there will be a significant increase in the cost of selling properties from the 1st June. The figure may be as much as £500.  More significantly, it is also likely that the ‘no sale – no charge’ market place which property sellers have enjoyed for many years will cease to exist with the cost of the packs being payable whether or not a property sells. 

Home Information Packs are coming!  Why not save yourself several hundred pounds and avoid the risk of paying even though you may not have sold by instructing Manning Stainton to place your property on the market now.  Call us today to arrange your market appraisal on 01924 234 888. 

David Pank
Sales & Marketing Director
Manning Stainton