Price of Home Information Packs

Beware of estate agents mark-up cost on the new Home Information Packs. A survey by Which discovered that some estate agents are increasing the cost of the Home Information Packs by a staggering thee hundred pounds.

If home owners decide to purchase the Home Information Packs with the estate agents they can pay upwards of five hundred pounds for a service that has only cost the estate agent two hundred according to findings by Which. This is an increase of over one hundred and fifty per cent.

It’s now compulsory to get a Home Information Pack before you put your house or flat on the market.

Home owners both in England and Wales are by law required to have the Home Information Packs and most estate agent are praying on the fact that the average consumer thinks they must buy the Home Information Pack as part of the overall package from the estate agent before they can place their property on the market..

James Daley, editor of Which Money, was quoted in saying: “It’s now compulsory to get a Home Information Pack before you put your house or flat on the market. But don’t be fooled into thinking that you have to buy it from your estate agent.”

Which Money who carried out the study looked at the cost of Home Information Packs provided by numerous estate agents on a three-bedroom freehold property and a two-bedroom leasehold flat in London.

The report highlighted Spicerhaart as being the most expensive charging a whooping five hundred and sixteen pounds.

Paul Smith, chief executive of Spicerhaart, said: “The research doesn’t show the full picture. The majority of the lower cost or free HIP providers add on fees elsewhere, for example, making it a condition of purchase that you use their conveyance services for which they charge a higher price.

“Additionally on freehold properties, which are the bulk of our work, our prices are similar to other agencies. The one case identified happens to be a leasehold property which makes the HIP more expensive because of the additional legal work involved.”

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