16
Jun
Estate agents risk breaking the law with inadequate HIPs
Obtaining Home Information Packs (HIPs) from disreputable providers
could see estate agents risking serious legal repercussions, an
expert has warned.
Under new rules brought in last year, every home put on the market
must have a HIP detailing a sale statement, evidence of title and
energy performance information, among other things.
Providers are required to meet high standards and carry
professional indemnity insurance of a minimum of £2 million
per HIP.
However, Mike Ockenden, director general of the Association of Home
Information Pack Providers, says estate agents are often more
concerned with getting the cheapest option rather than finding the
best choice for their customers.
He warns: "While I understand that many estate agents do not like
HIPs, they are here to stay and it is important that agents
understand their legal responsibilities in respect of packs."
According to recent HIP trial figures published by the government,
72 per cent of consumers are fairly or very satisfied with the new
legislation.
