In just a short time, all homeowners in the UK will be subjected to compulsory HIPs, or Home Information Packs. Before, only four bedroom homes were subjected to the HIPs requirement, but as of 14 December all homes in the UK will be required to have a HIP. The vast majority of homeowners in the UK are unhappy to say the least about this new requirement and many believe it will make selling a home even more difficult because of the added cost. It costs up to £1000 to have a HIP created and that is a barrier for many would be home sellers. The fact that HIPs are a done deal means that the buying and selling process in the UK just became more complicated, more expensive, and longer. The following drawbacks are just a few of the reasons why the new HIP law may make selling your home more difficult.
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