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Will HIPs hurt your selling chances?

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  • Will HIPs hurt your selling chances?

    The UK government is planning to introduce HIPs from June 2007, where the seller must pay for a survey available to all interested purchasers, when selling a property.

    The big questions is how this will affect the housing market.

    For a start, will it cause short-term scarcity as sellers postpone their sales until they have a better idea of how the HIPs program works? Or will sellers simply add it to the overall costs of selling a house?

    Will it actually make the process easier and better for selling a house as well? After all, if a house sale falls through only at the end because of a surveyors report, then isn't HIPs something that will benefit the seller as well?

  • #2
    I really hope HIPs doesn't have a negative impact - but if the housing market does see a slowdown over the next 15 months, then it's going to be hard to see how HIPs can't have at least some small impact in putting-off owners from putting their house up for sale. I really hope the size of impact - presuming there is one - is going to be pretty small.


    • #3
      One effect apparently is that local authorities have speeded up the time it takes them to respond to requested searches.
      Renovation opportunity, 3b det., Carmarthenshire


      • #4
        A real problem with A HIP, in my opinion, is that it presents another barrier in the selling process as they cost will be circa £300, which is just to enable you put yopur property on the market.
        Worldwide Financial Planning is a specialist independent provider of Large mortgages.


        • #5
          Bring on the Conservatives - as soon as Brown loses the next election, they should get rid of HIPs - which will save everyone a lot of time and money.


          • #6
            I heard there was a way to sell your House without HIPS once but I think it is not with an estate agent.