Following recent speculation, the Government has about-turned and said that homeowners that sell their homes without a sellers pack will not be subject to criminal sanctions. However, although not using a sellers pack will not be a criminal offence, it is still likely to be a civil offence and carry a fine.
The research into sellers packs is continuing and they have now been renamed as Home Information Packs. The National Association of Estate Agents is still sceptical and says that sellers packs will put people off selling their home.
The cost of putting the packs together is thought to cost around £600 and is an added burden to moving home.
An additional problem the NAEA see is that mortgage lenders might not accept the contents of the sellers packs as true. They may insist on their own property surveys meaning that work is duplicated and so are the costs.
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Sellers packs or home information packs have not yet been introduced. The concept is good, but the costs and complexities are unlikely to meet with praise. Sell whilst you can!