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
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