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SELL YOUR HOME QUICKLYSteer clear of the stress and expense of Home Information Packs
The facts: As of 10 September 2007, owners of 3-bedroomed – or larger – homes in England and Wales required Home Information Packs (HIPs) as a legal prerequisite for selling property.
What exactly are Home Information Packs? What are the implications for UK homeowners? Are they unavoidable, or is there a more favourable alternative? Keep reading for answers to these questions, and more.
What are Home Information Packs?
Essentially, Home Information Packs, or HIPs, refer to a group of legal documents without which homeowners in England or Wales will not be able to sell houses that have three bedrooms or more. HIPs feature documents such as Energy Performance Certificates (EPCs), Home Condition Reports, statements of sale, and title deeds.
The British Government is introducing Home Information Packs as a means to improve the process of buying and selling property in the country. Their reasoning is that if a seller is legally obligated to provide a range of certified documents about the home for sale, the buyer will necessarily have more credible information regarding the property he or she is about to purchase. In turn, this will bring transparency to the British property market, and eventually, ensure that the price of property corresponds to its actual worth.
Sounds great so far, doesn’t it? What the government strategically fails to mention, however, is that Home Information Packs can cost the homeowner anything up to £1 000! This is particularly problematic for homeowners who are selling their homes to regain financial control in the first place – mounting consumer debt and imminent home repossession orders are two examples that come to mind.
It’s all a bit of a paradox really: The homeowner is planning to sell his or her home in exchange for cash in order to avoid bankruptcy or a similar disastrous fate, but they can’t do so without paying £1 000. Simply put, the homeowner is selling his or her property as a means of accessing home equity, but first, he or she needs money in order to sell – a textbook example of a Catch-22 situation! For some unfortunate homeowners, this actually means a financial dead-end… Is there another way?
Why not avoid HIPs by selling to MPG?
Yes! Thanks to MPG Investments, there is another way. We are an investment-focused property buyer, and hence, do not require Home Information Packs from prospective property sellers!
As a direct result of our extensive experience in the property market and sheer financial muscle, we are capable of buying any property – regardless of its condition or location – without any HIP-related documents or fees!
If you need to sell your home as a result of impending repossession, bankruptcy, or some other urgent financial predicament, chances are that you’re stressed and dealing with an overstretched budget as it is. We understand what you are going through, and hence, will do everything in our power to make selling your home as simple and affordable as possible.