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Hips will provide "clearer transaction"

It has been claimed that the implementation of Home Information Packs (Hips) across all properties in 2008 will offer a better transaction for homebuyers.Stephen Ludlow, director of residential property agent Ludlowthompson, explained that Hips can potentially provide a "clearer transaction" and increase the speed of sales, if used correctly.He said: "The better agents will get geared up; and then when a property goes on the market, from a buyer's perspective – and for the seller, really - it's a much clearer transaction because you don't have to go through the conveyancing process that perhaps could cause problems later on."Mr Ludlow added that Hips are "a good thing" in terms of the speed of a transaction.Hips are to be introduced in sales of all properties from December 14th this year, following a phased introduction that has seen them first being applied to larger properties since the summer.

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