Hips won't help says Naea

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Home information packs (Hip) will do virtually nothing to prevent residential property sales from falling through, according to new research.

An independent survey carried out for the National Association of Estate Agents (Naea), has revealed the vast majority of property sales fail because of unforeseen circumstances rather than because speculative sellers are withdrawing their properties from the market. The Naea says in more than 30% of cases homeowners had experienced a breakdown in the sale of their property at some stage. And only 18% attributed the breakdown to unfavourable survey findings with 60% saying sales fell through due to either a broken property chain or a higher offer from a competing buyer. Almost 60% of ...

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