Chapter 5: Buyer's pre-contract searches and enquiries Flashcards
Which three pre-contract searches are always conducted?
- Local search
- Drainage and water search
- Environmental search
What is a local search?
Search of information held by local authority.
What are the three parts of the local search?
- Local land charges
- Enquiries of local authority
- Optional enquiries of local authority- includes common land and town and village green enquiry
What information will a local land charges search reveal?
- General and financial charges owed to the local authority in relation to the property. E.g. local authority has paid fees for homeowner to go into care pending sale of property
- Planning agreements
- Whether there are any listed buildings on the property
What are enquiries of the local authority and what do they reveal?
Part of the local search which is a standard set of enquiries
E.g. Whether there are public rights of way over property
What are optional enquiries of Local Authority?
Optional searches undertaken for additional fee.
E.g. Whether property abuts village green
What type of information will a drainage and water search provide?
Whether property is connected to public water supply and public foul drainage system
What type of information will an environmental search provide?
An environmental search reveals issues with the land and whether it has been contaminated
What are the three types of transaction specific searches?
- Search of index map (if property is unregistered)
- Bankruptcy search (if buyer is getting mortgage)
- Company search (if seller is a company)
What search should a buyer themselves undertake?
A physical search of the property to look for evidence of a right of way, a person in occupation and the physical condition of the property
What is the commercial equivalent of the Property Information Form?
Commercial Property Standard Enquiries.