It is important that a considered response is made to the article by Paul Marsh (see [2005] Gazette, 20 January, 32). Certain points need clarification.
The complete home information pack (HIP) will be in five parts: estate agents' details, title information, property information form (together with supporting documents) and possibly a fixtures and fittings form, searches, and the home inspectors report. Very few solicitors and estate agents will want to prepare the HIP. The time and administration involved will be costly and burdensome. HIPs, with surveys, are already in use in some parts of the country.Solicitors should not rush into changing or upgrading their computer software. When they do, they must ensure that it will eventually be compatible with the Land Registry e-conveyancing software.It is likely that some HIPs, including those prepared by the Home Information Pack Action Group (HIPAG), will be supplied on a no sale, no fee basis. There will be many fewer than half a million abortive transactions per year due to the transparency of the HIP. This is a fact, not an assumption - lengthy market research has been carried out to substantiate this. Some estate agents will waive their referral fees if they can obtain a comprehensive HIP quickly and if they are also guaranteed to receive an efficient service from the solicitor acting for the seller. The dry run is just that, not a test or another pilot. HIPs will become compulsory, no matter what. It is likely that there will be between five and ten large HIP providers nationally. Some will be more efficient than others. Mr Marsh says that 'solicitors will have the opportunity to compete - provided they act quickly'. The small-to-medium- sized firms will struggle to compete individually, however, they will if they join forces. That is why HIPAG was set up last year.
Rob Hailstone, Home Information Pack Action Group
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