HIPCENTRAL HIPS

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Home Condition Reports PDF Print E-mail
Optional HIP Content
The Home Condition Report is currently an optional component of the Home Information Pack (HIP). It is created by a licensed Home Inspector and it provides information, as the name suggests, about the condition of the property. This information is used by buyers, sellers and lenders.

Although it is only included in the Home Information Pack on a voluntary basis its importance should not be underestimated. One of the reasons that the Government introduced HIPs was to reduce the number of sales failing through due to information provided in surveys. According to Government figures about two-fifths of failed transactions are as a result of information in the survey.

Home sellers can use the report to identify remedial work that can be carried out to improve the saleability of the property. They are also less likely to have buyers drop out late on in the process.

Home buyers benefit from having a survey, Home Condition Report, available at the beginning of the buying process to help them make an informed decision and means that they do not need to pay for expensive surveys. This is especially beneficial for first-time buyers who are often unable to afford surveys and expose themselves to significant risk.