HIP

In England and Wales, the responsibility for getting searches and surveys done will become the seller's, so the buyer can make a more informed decision.

At the moment when you buy a property, you have to make an offer with very little information to hand. If a structural or legal problem shows up later, it can cause extra expense, ruin a sale, or even destroy a chain.

The Home Information Pack aims to reduce the time it takes from the accepted offer to the exchange of contracts.

What is a Home Information Pack and how will it help the home-buying and selling process?

Home information Packs will be a set of documents, which will provide home buyers and sellers with key information about the property that they may wish to buy, such as Land Registry searches, copies of the deeds to a property and a Home Condition Report.

Currently this information is not available until after an offer has been negotiated. This often causes sales to be renegotiated or collapse altogether. The Home Information Pack will be provided by sellers to enable people to make informed decisions about what they intend to buy, based on reliable information.

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