New property form a hit with home sellers

A month since new legislation requiring vendors to include a completed copy of the new Property Information Questionnaire (PIQ) in their HIP came into effect, a survey of almost 1,000 home sellers reveals that consumers were able to complete the form without delay or difficulty and, further, they recognise the value it adds to the sales process.

Conducted by Simply HIP, one of the largest providers of HIPs in England and Wales, the survey shows that the vast majority of vendors completed the PIQ in less than 30 minutes, with 52% taking less than 10 minutes to finish the form. In addition, not a single seller found the PIQ complicated to complete.

The PIQ gives upfront detailed information about the property on such things as parking arrangements, rights of access, structural alterations carried out to the property and Council Tax banding. A hefty 86% of sellers believe the information provided in the PIQ will prove useful to buyers and 84% say they will ask to see the PIQ when buying their next home.

Ashley King, managing director of Simply HIP, comments: “While many were apprehensive about the introduction of the new PIQ, it has been received very positively by vendors and has not caused unnecessary delays to the sales process. Sellers have completed the user-friendly form quickly and honestly, seeking help when needed from our dedicated PIQ team, enabling the HIP to be compiled and their property marketed within a few days.

“Far from hindering the process, it is encouraging to see that vendors believe the PIQ is a valuable addition to the Home Information Pack, providing buyers with further useful, upfront information about their future home. Having completed the form themselves, a greater number will now be keen to view the HIP for any properties that they are interested in buying.

“With the continued commitment of consumers, we hope to see this promising start maintained and improved upon, enabling the HIP to speed up the home selling process as it was intended to do.”