What searches are required when selling a house?
No matter where your property is located, here are the three main searches you’ll need as a minimum:
- Local Authority searches. This search highlights: Planning issues. …
- Environmental searches. This search highlights: …
- Water and drainage searches. This search enquiry is made to the local water company and highlights:
At what stage of buying a house are the searches done?
The searches should be completed and approved before you exchange contracts and legally commit yourself to purchasing the property, as they may highlight planning or structural issues that could either affect the value of the property, or result in additional costs further down the line.
What do local searches reveal?
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.
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!
Can you complete a house sale without searches?
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.
What happens after local 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.
Do cash buyers need searches?
In summary, no they are not always necessary. If you are a cash buyer and you know the area very well, you may decide to proceed without searches. However, you may find that a few hundred pounds spent on searches is a worthwhile expense when considering the cost of a home that could be hundreds of thousands of pounds.
‘The best way to speed up a search, is to contact a personal search organisation who will be able to run a search alongside the council and often produce searches quicker than local authorities can,’ explains Mark Hayward, chief policy adviser at Propertymark.
The official local authority search tends to be the most time-consuming, taking anywhere between two and six weeks, depending on how quickly the local authority can work.
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.