An Ipsos MORI survey commissioned by the Association of HIP Providers claim that sixty per cent of people polled find the Property Information Questionnaire useful to a buyer. This inference from this is that buyers are happy to rely on the information contained in the PIQ.
The consumer survey also indicated that 75% of sellers surveys found the PIQ easy to complete and took them more than 20 minutes to fill out, thus indicating that no legal assistance has been required in completing the PIQ.
Previous articles issued by Fridaysmove and in the press such as ” The new ‘Property Information Questionnaire’ or ‘PIQ’ could leave vendors financially exposed” have already highlighted the potential risks of making a mistake, albeit innocent in a PIQ. This latest survey should heighten concerns to sellers as it shows that buyers are relying in the Property Information Questionnaire which is the main pre-– requisite for being able to sue a seller if the information in the PIQ proves to be in accurate.