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 Fallacies of Home Information Kits (HIP).

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PostSubject: Fallacies of Home Information Kits (HIP).   Tue Oct 18, 2011 3:26 pm

1. HIP stands for as well as being an abbreviation for Do-it-yourself Pack
This a common error in judgment many make and one could be forgiven for holding this particular belief. This error was recently that is generated by the Communities and City (CLG) when publishing a fabulous guidance document on Home Information Packs of their website. It has due to the fact been rectified.
2. A HIP only previous for 12 months and be able to it must be restored.
As long as the property or home is continually marketed (this does not need to be via similar agent) the HIP continues to be valid.
3. If my best property doesn’ t sell I do not need to pay for the Household Information Pack.
  Are various kinds of payment options available when purchasing your property Information Pack; including an upfront payment and sometimes a deferred payment choice. With both of these payment options you should ultimately need to spend your Home Information Pack whether your belongings sells or you determine to take your house from the market.
  There has been promotion of any ‘ no sale, very little fee HIP’ which does potentially mean but if the property does not sell do not have to pay. Then again, there is a significant extra cost implication included and quite complex agreements attached to this check option. Some terms relating to this option dictates the pricing of one's property in a diminishing market. Please read these finer points carefully before entering to this kind of agreement
  4. Home Information Packs are a raised cost in the trading with process.
  It is true when you're selling a property free of buying a property there's an easy ‘ new’ cost with the selling process though this absolutely will not translate into significant increased overall costs. Then again, if you are buying and as well selling a property as could be the ‘ normal’ transaction, Home Information Packs costs negate themselves concerning the buyer and seller.
  From the new Home Information Pack legislation organisations are already forced to streamline their operations within a slowing property market regularly reducing their costs which use ultimately been passed about the end consumer. For orite. g. search companies and local authorities retained pressure applied to decrease their costs to the consumer as well as to increase their speed together with efficiency returning information asked. This a direct reaction to Home Information Pack guidelines.

8. The HIP doesn’ t needs to be completed until I secure accepted an offer.
  This statement is contrary to needs . concepts of the TRENDY i. e. having the required information prepared enable a smooth trading with process to take place therefore speeding up the process. Only completing the STYLISH once an offer was accepted returns us into the position we were in ahead of HIPs introduction with unexpected delays that could easily hold the profit up.
  The time taken from ordering of one's HIP to competition should generally be just about 5-10 days and this may be a question that should be asked of the prospective HIP provider.
  9. HIPS is the reason the UK housing marketplace has slowed down.
  It's a myth that we experienced must include but it is rare to find words for such the far fetched concept. How could Home Information Pack read me files which commonly costs £ two hundred fifity -£ 400 and provides valuable required and essential info in the property trading with process cause such a slow down throughout the uk Property market?
  10. Every property now requires a HIP if to be marketed.
  Whilst it is true which the initial roll right out of the HIP legislation via selection of bedrooms has been finished i. e. number of bedrooms does not anymore determine whether a property needs a HIP; there are nonetheless some HIP exclusions. Designed for e. g. a exclusive, non-marketed sale and blended use properties remain exempt with requiring a HIP. More reading on Place Information Pack exclusions is located here.





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