As from 21st May 2010 home owners no longer require a Home Information Pack (HIP) to sell their property. The new coalition Government announced the suspension of HIPs on 21st may with immediate effect and they are expected to be abolished in full later in the year.However, property sellers will still be required to commission an Energy Performance Certificate (EPC) before marketing their property for sale. Most estate agents can arrange the EPC at a cost of around £100. The EPC rates a property for energy efficiency and environmental emissions.
Richard Carter, the Managing Partner for Martin Tolhurst, feels the suspension of HIPs is an important step at a point of fragile housing recovery. “The suspension of HIPs sends a clear message of encouragement to people thinking of selling their home that they can put their property on the market quickly and cheaply. We produced over 8000 HIPs in the 3 years they were required but HIPs, whilst a good idea in principle, became diluted and a waste of time for buyers and an unnecessary expense for house sellers”.
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