Only 15 to 20 per cent of sellers to take out Home Condition Reports
Tue 24th Jul, 12:18:58 BST
Less than one in five of all sellers are likely to obtain a Home Condition Report (HCR), with the cost the major factor behind such reluctance, the Association of Home Information Pack Providers has stated.
HCRs are intended to make buyers aware of problems with a property before they commit to purchasing it, though with the seller to foot the bill and, with this aspect of the Home Information Packs (Hips) having been recently made optional, the organisation has concluded that take-up will be limited.
Despite the benefits to both buyers and sellers of taking out a full and comprehensive report on the state of a home prior to a sale, a spokesperson for the AHIPP said that he expected to see take-up rates of "less than 15 or 20 per cent" across the country.
"The main reason is cost," he said.
"People are already spending £5,000 on their home and they don't realise that an extra £200 could improve their house no end."
Recent research also carried out by the AHIPP found that the numbers of reports being done varies significantly across the country, largely influenced by how strongly individual estate agents sell the initiative to their customers.
HCRs are intended to make buyers aware of problems with a property before they commit to purchasing it, though with the seller to foot the bill and, with this aspect of the Home Information Packs (Hips) having been recently made optional, the organisation has concluded that take-up will be limited.
Despite the benefits to both buyers and sellers of taking out a full and comprehensive report on the state of a home prior to a sale, a spokesperson for the AHIPP said that he expected to see take-up rates of "less than 15 or 20 per cent" across the country.
"The main reason is cost," he said.
"People are already spending £5,000 on their home and they don't realise that an extra £200 could improve their house no end."
Recent research also carried out by the AHIPP found that the numbers of reports being done varies significantly across the country, largely influenced by how strongly individual estate agents sell the initiative to their customers.
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