ANYONE who has dreamed of making one particular property their own one day might have to abandon all thoughts of making this fantasy come true once the Government’s Home Information Packs (HIPs) come into being, says the National Association of Estate Agents (NAEA).

Home owners who would never contemplate moving unless a certain property came onto the market may be stopped in their tracks once the new legislation comes in, because of the time it could take to put the HIP together, the NAEA has found.

Chief executive of the NAEA Peter Bolton King said: "Many of us have a home in mind about which we say to ourselves 'If it ever comes on the market I will have a go at buying it.'

"At the moment, if that for-sale board goes up then we are able to put our current home on sale straightaway, thereby lessening the chance of somebody else jumping in ahead of us.

"In the majority of cases, agents also offer a no-sale, no-charge agreement. As a result many people currently decide they have nothing to lose by having a go. Once HIPs come in, that will not be the case."

HIPs, which become mandatory from June 2007, are packs which contain information on a property, ranging from legal documents to the condition of the home and its energy efficiency.

They will cost between £600 and £1,000 to produce, the cost of which will be met by the seller. It is estimated that, especially with leasehold properties, they may take up to 14 days to produce. During this time, the property cannot be marketed.

Mr Bolton King said the implications of the packs were huge for impulse sellers.