The Nottingham: House-selling may be held up by new laws
www.moneynews.co.uk > Housing market > The Nottingham: House-selling may be held up by new laws
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Money News |
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The Nottingham: House-selling may be held up by new laws
Wed 18th Mar 2009
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Introduced by housing minister Margaret Beckett, the new laws will mean that every homeowner wanting to put their house on the market will be required to complete a Home Information Pack (Hip) before they can do so.
Currently, sellers can instruct estate agents as soon as they have ordered and paid for an Hip.
Graham Lang, operations manager at The Nottingham, said: "The reality is that from April 6th, home-selling is now going to become a major logistical exercise for everyone involved in the process.
"Therefore, going forward, sellers must prepare themselves for some frustrations."
With the latest Halifax House Price Index figures showing that property prices are still falling, this additional hassle may put some people off selling their houses altogether.
Click here for more housing market news
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