Estate agents would support more upfront information, says NAEA boss – but no return to HIPs

NAEA managing director Mark Hayward – and conveyancers – yesterday backed moves towards providing upfront information in the home-buying process, to stop sales falling through.

But delegates and speakers at yesterday’s Conveyancing Association conference stopped short of calling for a return to full Home Information Packs.

Conveyancing Association chairman Eddie Goldsmith asked the audience what would be in a pre-contract pack, with audience members backing documents showing proof of ownership and documents, but not Land Registry searches, surveys or historical paperwork.

Jonathan Lay of Spicerhaart said the big question was “who pays for it and who sells it”.

He said: “Pre-packs would get information out earlier and speed up the process. It is quite often about just getting the buyer and vendor off the ground.”

Victoria Mortimer of Shulmans said the law firm had been trialling providing upfront information on sales with an estate agent, who would tell a vendor the documents they need to provide, which had sped up transactions.

David Bridge, of BPL Solicitors, said it was important not to look back on HIPs with too much nostalgia, adding: “Lawyers would still need to get sent the HIPs from different providers.

“It is important to have the right and relevant information upfront such as the length of a lease, but a copy of a 1983 conveyance would be completely pointless.

“We should look at what information would be easy, free and cheap to provide so there are fewer surprises.”

Hayward told the conference: “Agents are concerned about abortive sales. My members only get paid at completion, unless they are online-only.

“It’s just getting them to commit to a system.”

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2 Comments

  1. Fairfax87

    How on earth can office copies and a filed plan provided upfront speed up the transaction, and stop matters falling through ?    Without searches included, its a waste of time.

    If it was such a great idea, Estate Agents up and down the land would voluntarily swallow £6 to provide this info now – the fact it is not happening speaks volumes.

    Ater the HIPs debacle, no politician is going anywhere near this whole toxic topic.

     

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    1. LocalAgent201625

      I’d be happy to deduct a few hundred quid off our fee if it meant the sale would get off to a flying start and complete a lot quicker with lower risk of aborting.

       

      It’s just nailing down on the logistics of what’s included in these “packs”.

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