Home Information Pack Solution (HIPs) Firsthips

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Firsthips Consumer Survey 2006 - What Our Clients Want

Firsthips recently commissioned survey has revealed home owners frustration with the existing system

The results are in, and according to our recent survey of 2,500 property owners, 92% said they would definitely use an online web portal to actively track and communicate with all parties for the entire sale through to completion to provide more transparency in the process, whilst 76% of consumers believe that HIPs will ultimately save them time, money and a lot of stress.

An incredible 6% of homeowners nationwide - that's a whopping 1.4 million of the 24.5 million British home owners - said they were so badly affected by the stress that they had to take an average of 2 days off work, costing businesses millions of pounds a year in unnecessary sick leave.

60% of respondents said they were frustrated by the lack of progress, with half of all those questioned complaining they were not kept up to date on what was happening by their estate agent and 44.3% by their solicitors, with respondents saying they had to go out of their way to chase up their estate agent on average 10 times during the process.

When asked who or what most delayed the purchase of their property, 20% said it was the fault of other buyers or sellers in the chain, 19% blamed their conveyancers with 11.83% blaming it on paperwork alone.

 

Ratings against what buyers want included in Home Information Packs to help speed up the process of house buying Percent
Survey 53.49%
Energy Performance Certificate 30.90%
Warrantees & Guarantees 46.51%
Fixtures & Fittings 46.68%
Local Searches 43.69%
All 40.86%

 

Out of those wanting a Home Condition Report or survey prepared upfront, 87% said it would not affect their decision to purchase the property and only 13% said it would affect how much they were prepared to pay. 26% of consumers said they would trust an accredited Home Inspector to carry out the Home Condition Report on behalf of the seller, while 46% said they would trust the report only for initial negotiations, but would then pay to get their own surveys done.

When asked who they would most trust to put together the Home Information pack, the majority of all those questioned, would only trust a conveyancer to create the packs, with less than 34% trusting a commercial pack provider.

Firsthips is leading the way in providing a unique online system that allows the whole property selling and buying process to come together intuitively and seamlessly, from the creation of Home Information Packs through to completion of the sale. The introduction of the live Firsthips online system provides a simple, economical and efficient solution enabling estate agents, property lawyers and home inspectors to produce a HIP without the need for intermediaries. It also enables all parties including home sellers, buyers and their lawyers to communicate and collaborate effectively, with a unique information sharing and intelligence capability.

Top ten side effects of property ladder stress:


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