Whether Home Information Packs (HIPs) will or won't take effect is a theme that has been debated endlessly over the past few weeks and months. Leaves you thinking that everything that can be said has already been said? Yet there as many different splinter discussions as there are minutes in the day, there appear to be four main areas currently under debate:

1. Whether HIPs will actually be implemented on 1 June;
2. If they do go ahead, whether they will be in the format currently agreed by the government;
3. The effect they will have on the housing market, and;
4. What effect they will have on the Mortgage and Estate Agent industries.

After two years of preparation, some strong discussions, and a couple of u-turns, Home Information Packs (HIPs) are set to go live on 1 June this year. Originally intended as a substantial modification that would revolutionise the manner in which properties are purchased and sold, HIPs were intended to make house sales quicker and cheaper, by including a basic survey - the Home Condition Report (HCR) - and search details in the information provided by the seller. Two years on, the scheme has been comparatively watered down.

Last Summer research among over 1,000 mortgage brokers showed some strong concerns about the content and timing of the HIPs launch. Not long after the research was conducted, the government conceded that putting a HCR in the Home Information Pack was possibly not the best of ideas, mainly because it was becoming increasingly unlikely that the necessary 7,000 home inspectors would be recruited and trained in time for the launch.

Take a look at the government website on Home Information Packs and you will see that what was originally planned as an advancement to the system of house purchase has nearly turned into a green initiative on energy saving - not a bad thing, but not quite what was intended when the scheme was devised. So, as the proposition now stands, the first document in the HIP will not be a report on the condition of the property. Instead, it will be an Energy Performance Certificate (EPC). The EPC is intended to be an energy rating for homes, giving consumers information about the energy efficiency of the property they purpose to purchase. This may be a great idea in itself, but it is not exactly something that will speed up the transaction process.

The revised HIP rules are now as follows. From 1 June, sellers will be able to market their home as soon as the EPC and key legal documents are provided. A HCR can be included if the seller wishes to instruct one, but it is no longer obligatory - which to all intents and purposes means that most people won't trouble themselves. Similarly, searches will not need to be included in the packs, even though these too were originally supposed to be an comprehensive ingredient of the packs. They purely need to have been 'commissioned'. Properties that go on the market prior to the 1 June implementation date will now be allowed to stay HIP-free until March 2008, rather than the original October 2007 deadline. This has led to conjecture that more properties may be put onto the market in the first half of the year, with a consequent fall off in the latter half.

In the long term, HIPs probably will not about the revolution that the original proposal promised. Similarly, ideas which focus attention on green initiatives and energy saving have to be applauded. There are many other developments happening in the market which will work to make the process quicker and more efficient. The great strides made to speed up the mortgage process have made a huge difference and if e-conveyancing fulfils its potential, it will have a dramatic effect.

More info on your stop foreclosure information search:

Get Free Foreclosure Advice and Free Refinance Quotes
Get your free on-line foreclosure refinance quote and free advice from foreclosure mitigation specialist in minutes. Compare real offers from top national subprime and hard money lenders... more...

How To Sell Your House
The spring market is right around the corner. The national sales are down. The foreclosure rates are at a all time high. These are grabbing the front pages of media giants across the country. I have wrote a few articles last year to help people with preparing their houses for sale. I will try to ... more...

How to Price Your Home to Sell
The most common method for determining what a home might sell for is the Comparative Market Analysis. This is the method used most often by Realtors. The CMA will demonstrate what similar homes have sold for in the current market. Most CMA?s will have four parts. The analysis will show Active ... more...

List for Less on the MLS
The Details about Flat Fee MLS Homes For Sale By Owner MLS Marketing Method The Multiple Listing Service has been used for nearly a decade by real estate professionals, but Flat-Fee MLS Listing is still relatively new marketing method for most home sellers. Using this Full Service realtor ... more...

Buying Properties in Foreclosure
Sales in the Real estate market have been booming for years, but now the majority of home sales have slowed down. We are in what is considered a 'slow market'. Homes are not appraising for what they once did, so the selling prices have dropped. You can no longer get the price you once wanted. There ... more...