home information packs (hips)

What is HIP’s?

On the 1st June 2007 the government backed HIPs scheme begins. What is HIPs you might ask. Well HIPs stands for Home Information Packs. The Home Information Packs will be created by Home Inspectors on behave of a property seller. Yes that's right, a property seller.

The traditional method of buying and selling UK properties

Traditionally the onus has been on the buyer of a property to get a comprehensive survey carried out by a RICs qualified surveyor. In Currently, this may led to surveyor finding building or structural complications. Consequently, this may result in a number of scenarios:

1. A pullout from the buyer
2. A reduction in the price offered on the property
3. Tradesmen being called in to carry out work on the property

All in all this leads to a protracted buying and selling process

How will HIPs change this?

From 1st June 2007 the onus will be on the seller to arrange a home inspection by a qualified Home Inspector before the property goes on the market. This means that major work and repairs will be completed before a property reaches the market. It also means the property will go on the market at a price that is more or less representative of the property in good order