In order to make the system work beneficially for all, it is essential that all sellers have a pack prepared, and all buyers go house-hunting knowing what they can afford or can borrow, and this is where legislation is essential, according to CHIPS. Without legislative compulsion, a percentage of properties will not have home information packs, and the information and confidence that packs provide will not be universally available.
‘CHIPS’ is urging the Government not to delay the introduction of Home Information Packs because their experience shows that consumers want the change as soon as possible.
“We are very pleased that, despite speculation in the media, all the indications are that the Government are pressing ahead with their manifesto commitment to introduce the mandatory requirement to assemble a pack before marketing a home,” said Ed Chamberlain, chairman of CHIPS.
“Our experience and that of other practitioners offering packs including pre-sale surveys is that buyers and sellers are so much better informed, feel much more confident about the transaction, and find the process much easier to understand. The confidence is underpinned by the low numbers of transactions that fall through and the number of cases where transaction time is speeded up. Simply, buyers and sellers tell us they are very pleased with this enhanced service, and wonder why it has not been available before.”