UK Money News
11th December 2007
Estate agents 'will make the best of Hips'
Effective estate agents will use home information packs (Hips) to the benefit of both buyers and sellers, it has been suggested.
Residential property agent Ludlowthompson has stated that the packs, intended to provide help with money through reducing the number of transactions that fall through, can be used to the advantage of all.
Stephen Ludlow, director of the firm, said: "From a buyer's perspective - and for the seller, really - it's a much clearer transaction because you don't have to go through the conveyancing process that perhaps could cause problems later on."
He added that Hips could also result in speedier transactions, provided that the right estate agent and solicitor was used to offer help with finance advice.
Hips are set to be required for all houses going to market as of December 14th and they are already part of the sales process for houses with three or more bedrooms.
The government claims that such homes comprise 60 per cent of the current housing stock.
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