What Are Property Searches and Why Do They Matter?
We handle residential conveyancing transactions on a daily basis, including freehold, leasehold and new build properties across the Fylde Coast.
Property searches are checks carried out during the conveyancing process to identify legal, environmental and practical issues that may affect a property. They form an important part of a buyer’s due diligence, particularly where a mortgage lender requires them.
Common searches include Local Authority searches, Water and Drainage searches and Environmental searches. Depending on the property and its location, additional searches may also be recommended, including mining or flood searches. Mortgage lenders will often require certain searches before they are prepared to lend.
These searches can reveal matters that may not be apparent from viewing the property, including planning restrictions, local land charges, flood risk, contaminated land, drainage arrangements and historic mining activity.
Searches are usually reviewed before contracts are exchanged, so that any concerns can be investigated before the buyer becomes legally committed. They are different from a physical survey, which is intended to identify issues with the condition or structure of the property.Â
At MJV Solicitors, search results are reviewed carefully and explained in plain English so clients understand any issues before deciding whether to proceed.
For more information about the conveyancing process and how MJV Solicitors can help, read our complete guide to Residential Conveyancing.
