Why do I need to have searches for a property?

31/07/2018

Buying a property may be one of the most expensive purchases you are likely to make. Therefore, before committing yourself to a property purchase, it seems obvious that you want to ensure that you know all you can about the property. 

People sometimes see the additional cost of searches as an unnecessary expense on top of an already expensive undertaking. However, we want you, as our clients, to realise the value of searches and how they could in fact save you thousands of pounds. 

As your conveyancer, we want to ensure that you are happy with the property that you are purchasing and that you understand as much about the property as is possible in order to make a fully informed decision as to exactly what you are buying. In addition, if you are buying the property with a mortgage, lenders will need to be satisfied from various searches that there is nothing that could adversely affect the value of the property.

We will always investigate the title of the property you are purchasing but there are also several different types of searches that we, as your conveyancer, are required to conduct before you purchase your property.

These include:

> Local Authority; 

> Drainage and water; and

> Environmental.

Please note: the geographical location of the property you wish to purchase will affect the types of recommended searches, for example if the property is near Newcastle, a mining search will often be recommended. 


Our next article will cover how long it will take to carry out searches and what issues you may face when you get the results - but wouldn't you rather be aware in advance?


Although every effort has been made to ensure that the information provided in this article is accurate and correct, the information provided does not constitute any form of advice, recommendation or opinion. DPM Legal Services Limited accepts no liability for any loss or damage, howsoever caused, as a result of any reliance on any information provided.