BLOGS

Buying a Property - Do I need Searches?

What are searches?

Searches are enquiries which are submitted to various third parties which provide information about a Property. Searches deal only with legal aspects of the property; they are not surveys and will not report on the physical state of the property.

Do I need searches?

If you intend to purchase a property with a mortgage you will need to have searches carried out in order to comply with your lender’s requirements. If you do not intend to have a mortgage (i.e. you are a cash-buyer), we would still strongly advise that you have the searches carried out else we will be unable to advise you on a number of matters.

As an alternative a cash-buyer could purchase indemnity insurance. However, insurance would only cover loss of value to a property or essential expenses resulting from something which would have been revealed had a search been carried out. It does not prevent action being taken and does not provide compensation for any inconvenience caused as a result.

What searches do I need?

The searches you will need depend on the location of the property. The “standard searches” are the Local Authority Search, Water and Drainage Search and Environmental Search. Depending on the location it may also be sensible to carry out a Mining Search. This list is not exhaustive, but we can advise you on whether we would recommend any other searches.

What information would the searches reveal?

A Local Authority Search would reveal, amongst other things, the status of the nearby roads, planning history and whether the property is affected by any financial charges…etc. A Local Authority Search will only disclose matters affecting the property you intend to buy and will not give information concerning development of adjoining properties.

A Water and Drainage Search would provide information on whether the property is connected to the mains water supply and main sewer and will also indicate the route of any mains which pass through or close to the Property.

An Environmental Search can be used to establish the risk of land being contaminated, past land uses and current and potential flood risks.

A Mining Search would be used to determine whether the Property has been or is likely to be affected by subsidence which could affect the value and marketability of the Property.

How much would searches cost?

The cost varies depending on the location of the property and the number of searches carried out. The “standard searches” usually cost in the region of £300 - £350.