© 2025 News On The Block. All rights reserved.
News on the Block is a trading name of Premier Property Media Ltd.
© 2025 News On The Block. All rights reserved.
News on the Block is a trading name of Premier Property Media Ltd.
The National Association of Estate Agents (NAEA) has announced its concerns over the almost total lack of knowledge and understanding among consumers about how home information packs (HIPs) will affect the sale of property.
Feedback from its members at a variety of HIPs road shows has highlighted concerns that the general public is largely unaware of the introduction of HIPs, even with the volume of recent media coverage on the subject, with few understanding the implications HIPs will have on the buying and selling of property once it is introduced in June 2007.
NAEA Chief Executive Peter Bolton King said: “Those selling property can be loosely divided into two groups. The first are those with a need to sell their home quickly. For example, they may need to relocate to start a new job or to buy their dream home that has just come onto the market. The second group plan the sale of their home well in advance: they may simply be moving to different sized property or recognising the need to move in one years’ time to be within the catchment area of a good local school.
“HIPs will impact upon both groups but the immediate worry is that those planning to put their homes on the market next year are unprepared for how the market will have changed.”
The Government believes that the HIP will enable purchasers to make an informed decision before agreeing to buy the property. According to the NAEA the main issues that will affect home-owners with the introduction of HIPs next year are as follows:
n It will be the responsibility of the seller to provide the HIP before their property can be marketed. In the vast majority of cases they will instruct their estate agent to do this for them. The anticipated cost is between £600 and £1,000.
n It is anticipated that some of the information contained within the HIP will have a limited shelf life. This would mean that unless a buyer is found within this period, the seller might well have to pay to update parts of the pack.
n Home-owners will be faced with fees incurred by HIPs even if the property does not sell.
n The HIP will comprise a number of documents such as searches, leases and other reports. Most importantly it will also include a home condition report which is intended to highlight any potential problems with the physical property.
Peter Bolton King concludes: “The NAEA’s main concern is that while we support the Government’s objective to improve the buying and selling process, in its current form the HIP will simply shift existing problems from the middle of the process to the beginning.
“To be prepared, home-owners should be seeking advice from NAEA estate agents now about what to expect from the market next year and how to get ready for its introduction.”
NAEA members in particular benefit from regular HIP road shows and legislation updates from the Association advising agents on what they need to do to prepare for when HIPs become mandatory.