PIQ a hit with sellers: Simply HIP

New legislation now requires vendors to include a completed copy of a PIQ in their HIP. The latest survey by Simply HIP showed 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. The survey showed 86% of sellers believed the information provided in the PIQ would prove useful to buyers, while 84% said they would ask to see the PIQ when buying their next home.

Ashley King, managing director of Simply HIP, said that while many were apprehensive about the introduction of the new PIQ, it had been received very positively by vendors and had not caused unnecessary delays to the sales process.

He commented: "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 HIP, 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.

King concluded: "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."