Home Information Packs Explained
Posted by catzilla
The main objective of home information packs is to improve the process of buying and selling houses in the UK. They were first discussed in 1997 government manifestos, and again in 2001.
The home information pack, or “hip” was originally created as the “sellers pack”. The aim of which is to revolutionise the way we buy and sell houses in the UK. It is designed to reduce the number of failed transactions, or gazumping as it’s more commonly known as, by shortening the time between the critical steps of the buying process between an offer being accepted, and the exchange of contracts.
The pack is prepared by the seller, or more likely their estate agents on their behalf. The sellers are legally required highlight certain specifics of relevant information about their house, before placing the house on the market for sale.
Tags: gazumping, home information packs
Under Home Tags: gazumping, home information packs
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