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HIPs are working!
Added: (Tue Apr 29 2008)
As an ex-estate agent having a long pedigree within the property market and now in the thick of things producing HIPs, I was at first sceptical about the Home Information Pack but having read thousands of them now I realise just how much of a difference to the English and Welsh housing markets they will make.
Firstly, we have employed people from a conveyancing background that can read and understand the documents that are included in the HIP. I have also worked closely with a good number of solicitors so that we are preparing the pack as they would like to see it.
Most importantly, with an agency hat on, unlike most providers we are reading the contents looking for things that may delay not only the sale but hold up the entire chain, then notifying both the vendor and the estate agent, making sure that it is being resolved by an appropriate person i.e a solicitor, actively encouraging vendors to instruct their solicitors earlier in the transaction (which is something the whole industry has asked for since I can remember). This gives the seller a chance to resolve said issue before selling, therefore speeding up the process of the transaction once agreed and preventing a number of chains falling apart.
All the HIP needs is a greater education to the public and agents for everyone to see the benefit.