What are searches when selling a property?
Property searches (also known as conveyancing searches) are enquiries made by your solicitor to find out more information about a property you plan to purchase. As part of the home-buying process, your conveyancer will carry out a variety of ‘searches’ with the local authority and other parties.
What do conveyancing searches include?
Conveyancing searches are a standard set of questions submitted to the relevant authority by your conveyancer or solicitor to find out important information about the property. … These will then highlight any issues to do with the area and local authority that could cause disruption or damage to the property.
What do local searches show?
It will reveal details of planning and building regulation applications specific to the property, any enforcement action taken by the Council, of the nearest public highways, road and railway schemes, radon and contaminated land entries.
What must a seller disclose when selling a property?
Sellers have to disclose any occupants (ie boyfriend, grandparent), who should also sign the contract. Sellers must disclose any official letters that have been received. And it is advisable to disclose any planning matters relating to the house or the neighbourhood.
How long does it take to exchange after searches?
The time between conveyancing searches and exchange of contracts is typically between 1 and 3 weeks. Although this may seem like quite a long time, you’ll be pleased to know that you’re on the home straight!
What happens after searches come back?
When the search results are back, your solicitor will send a copy of them to you with a report summarising the main points. These usually take 2 to 3 weeks but the local authority search can take up to 6 weeks depending on the area and workload of the relevant local authority.
Are searches compulsory when buying a house?
Whilst searches are required if you are purchasing with the aid of a mortgage they are not mandatory if you are a cash purchaser, as it is your own funds that will be at risk and not a mortgage lenders…. so it is your decision. But remember lenders ask for searches for a reason- to protect their investment.
Can local searches be fast tracked?
However, there are still many local authorities that do offer a fast track local authority option for an extra fee. Search turn around can be anything from 48 hours to six weeks, so If you are able to fast track, this might mean that the search would come back in 2 weeks instead of maybe 3 to 6.
Can I do my own searches when buying a house?
You can also conduct a personal search yourself for free, but this is not recommended as local reports require specialist knowledge to execute a search properly.
How long do house searches take in 2020?
As a rough guide, searches typically take around two to three weeks to complete, but remember that their results may prompt your solicitor to make further enquiries.
What does house searches include?
‘Searches’ or ‘property searches’ are completed by your solicitor. They work with the local authority (and other organisations) as part of the home buying process. They use these to find out any information about the property. As well as any local development plans that may affect the home you plan to purchase.