30th January 2008- HIPs 'help to reduce speculative marketing'Home Information Packs (HIP) have helped to ensure that people putting their houses on the market are truly willing to sell and has reduced speculative marketing, according to AA Legal Services.Since last month, every house which is put onto the market needs to have a HIP and the AA say that this will be beneficial to the market. James Molloy, product manager for AA Legal Services, said: "HIPs naturally focus the mind of the seller before marketing their property. We hope that now only those who have a genuine, considered desire to sell their property enter the market at the front end, and Hips have undoubtedly reduced speculative marketing." He added that a lack of commitment by some sellers in the pre HIP era contributed to an "unacceptable level of aborted transactions". Included in the HIP is information such as a sale statement, local searches and evidence of title. (Source: Money Magic Mortgage Advice) |
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