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Homeowners who put their house on the market after 1st June will have to pay £400-£600 up front to compile a Home Information Pack (HIP). The HIP will include title deeds, an energy performance certificate, local searches, guarantees for work carried out on the property and copies of planning consents.
However, a last minute legal challenge has now been launched by the Royal Institution of Chartered Surveyors (RICS). According to the RICS, in order to protect the property interests of the public, they have no choice but to seek a judicial review of the decision to go ahead with HIPs on 1st June.
Opposition to HIPs has been significant and many groups in the housing industry have asked for a delay to the launch. The worry is that the industry and consumers are not yet prepared to deal with the new requirements. For example there may not be enough inspectors with appropriate qualifications to cope with the work involved. However, the Government sees no reason why the introduction of HIPs should not go smoothly.
A recent survey by the RICS suggested that the housing market has been affected by the imminent introduction of HIPs. If your home is on the market before the launch date then a pack is not required until 2008. Therefore some homeowners are rushing to put their property up for sale before the deadline.
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