| Why would a potential buyer trust a survey commissioned by the seller?
This is one of the most commonly asked questions we hear! The HCR can only be produced by a Home Inspector (HI), who is licensed by the Government and has passed a stringent qualification and examination process. Reports are also checked at random and any Home Inspector who does not meet the required standard is likely to lose their livelihood and would be liable to legal proceedings – so no Home Inspector is going to produce a HCR to favour the seller! Mortgage lenders as well as sellers and buyers will be able to rely on the Home Condition Reports. Our Home Inspectors have all undergone training at SAVA (Surveyers and Valuers Accreditation) and are polite, friendly and professional.
What are the views of consumer groups on HIPs?
The consumer group Which? supports the introduction of HIPs as it provides much needed protection for buyers of residential property. Currently only 1 in 5 home buyers have any form of survey, despite the fact that the purchase is likely to be the most expensive one they will ever make!
The HIPs will enable prospective buyers to make decisions based on fact rather than guesswork. In a survey conducted of over 1000 people it found only 7% would be put off selling their home if it meant having a HIP first.
What are the costs and payment terms?
The cost of the HIP is expected to be between £600 - £900. Clients can avail of a discount for full payment upon receipt of their HIP. Alternatively, they can opt to defer payment using our flexible ‘buy now – pay later’ scheme, until completion or within six months. A small deposit is required initially to cover the legal work cost and naturally we would expect the client to reimburse us in full should they withdraw from the market. The HIP remains the property of GPB Design until it has been paid in full. |
