Cost
Initially the cost of a Home Information Pack, including the Home Condition Report, was estimated to be around £600 by the Government. This was to include the cost of the postponed Home Condition Report, which was expected by the Department for Communities and Local Government to cost between £250 and £1000.. Industry subsequently expected the Home Information Pack (excluding the HCR) to cost between £300 - £600 for the vast majority of properties in England and Wales. Naturally, for larger or more complex properties, the costs could be significantly higher. Some estate agents are offering HIPs for free, however homeowners should be vigilant and only sign up to these after carefully considering the small print. The Law Society has recommended the use of independent HIP providers to avoid being tied in or triggering penalty clauses.
The Government pointed out, however, that most of the items in the pack already have to be provided during the sale process, so this is not all an additional cost. However the Council of Mortgage Lenders reported that their members were planning to insist on a separate valuation in addition to the Home Condition Report, while those purchasers requiring a building survey would also have to pay extra.
Read more about this topic: Home Information Pack
Famous quotes containing the word cost:
“It may cost me twenty thousand francs; but for twenty thousand francs, I will have the right to rail against the iniquity of humanity, and to devote to it my eternal hatred.”
—Molière [Jean Baptiste Poquelin] (1622–1673)
“To call a posit a posit is not to patronize it. A posit can be unavoidable except at the cost of other no less artificial expedients. Everything to which we concede existence is a posit from the standpoint of a description of the theory-building process, and simultaneously real from the standpoint of the theory that is being built.”
—Willard Van Orman Quine (b. 1908)
“Oh high is the price of parenthood,
And daughters may cost you double.
You dare not forget, as you thought you could,
That youth is a plague and a trouble.”
—Phyllis McGinley (20th century)