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The home information pack - time to 'get packing'?

By: Language: English Series: New Law Journal ; 155 (7193) 23 September 2005, 1392 - 1394 (2)Publication details: 2005Subject(s): Summary: Draft regulations for the implementation of Home Information Packs (HIPs) are due to be published shortly. The basic HIP is likely to consist of a sale statement, title documents, local searches and a home condition report. A 'dry run' for HIPs is likely to be held in 2006. The costs of a HIP will be borne by the seller. A new industry of pack providers has already come into existence; it is anticipated that competition between such providers will help to keep costs down. The article also considers a number of practical issues such as early marketing, resource implications for managing agents and estate agents, consumer complaints, and updating of packs.

Draft regulations for the implementation of Home Information Packs (HIPs) are due to be published shortly. The basic HIP is likely to consist of a sale statement, title documents, local searches and a home condition report. A 'dry run' for HIPs is likely to be held in 2006. The costs of a HIP will be borne by the seller. A new industry of pack providers has already come into existence; it is anticipated that competition between such providers will help to keep costs down. The article also considers a number of practical issues such as early marketing, resource implications for managing agents and estate agents, consumer complaints, and updating of packs.