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Estate agents ‘ignoring HIPs’

By rotide
Created 04/08/2008 - 09:43

Estate agents in England and Wales are ignoring the requirement for every home for sale in the UK to have a home information pack (HIP), according to research by the BBC.

The organisation reports that the Law Society believes HIPs are often not produced for weeks after a property has gone on the market, with sellers reluctant to meet the costs in the current economic climate and housing market.

"You would have expected that the HIP would be available immediately the agreement is reached," said Paul Marsh, president of the Law Society.

"We're not getting a HIP until three to four weeks later, sometimes not until exchange of contracts."

HIPs were introduced in 2007 and cost around £400 to produce, which is paid for by the seller or the estate agent.

Source URL:
https://www.newbusiness.co.uk/news/estate-agents-%E2%80%98ignoring-hips%E2%80%99