Buying a new property is an exciting time. However, the conveyancing process can come with plenty of stages and information that you may not have heard about before. Searches and surveys when buying a house are one of these things.
Searches and surveys are an important part of the conveyancing process. They are both designed to uncover information about the property that helps you to make an informed decision about the transaction. But what are they and what do you need to know about them? This article covers the most common points about searches and surveys that you will come across as you go through the process of buying your new property.
For more information about the conveyancing process and buying a property, download our free and comprehensive Buyer’s Guide to Conveyancing.
What are property searches?
Property searches are a key part of the conveyancing process that can uncover important legal information about the property. This information can then help you make an informed decision about whether to proceed with buying the property or not.
What searches do solicitors do?
The three main searches when buying a house are Local Authority Searches, Land Registry Searches, and Environmental Searches. Your conveyancer will carry out these searches on your behalf.
Local Authority Searches
These searches are conducted by the local council. They provide beneficial information about the area around the property and any issues that could affect the buyer’s use of the property, such as planning permissions, public rights of way, and conservation areas.
Land Registry Searches
These searches provide confirmation of the property’s legal ownership, as well as associated interests such as mortgages or other charges. They also clarify the property’s boundaries alongside any disputes or discrepancies. Their purpose is to ensure that the property is legally owned by the seller and that there are no claims or charges against it. This protects your investment and legal rights to the property.
Environmental Searches
These are important for identifying any possible environmental risks or hazards that could affect the property’s safety, value, and future use. They can uncover risks such as contaminated land, subsistence, radon gas, and flood risks. Overall, they help you to assess the risks associated with the property so you can make an informed decision.
Who pays for searches on a property?
If you’re buying a property, you will pay for the searches to be carried out by your conveyancer. The cost of the searches can vary depending on your location, but your conveyancer will advise you on this. Search costs typically come under ‘disbursements’ when paying your conveyancing fees – these are the fees incurred by the conveyancer on your behalf.
What are surveys?
There’s a common misconception that searches and surveys are the same, but in reality they are different things. When buying a property, surveys are useful to know more about the property’s condition and anything that might affect its value now or in the future. You can then use this information to make a decision about whether to proceed with buying the property, or to negotiate on price if any issues are uncovered.
Surveys are not mandatory when buying a property. It is up to the buyer to decide whether to have a survey done, and they will also pay for it. It’s usually advised to have an independent survey carried out so that you have a more informed view of what you are buying.
Mortgage lender surveys
If you’re using a mortgage to buy the property, the mortgage lender will carry out their own survey to determine its value is and that it’s suitable security for the mortgage. These surveys are for the mortgage lender’s benefit, and so you can’t rely on it for informtion about the condition of the property. If you want more insight into the property’s condition, you will need to have your own surveys carried out.
There are three levels of survey. The best one to choose will depend on the condition and age of the property you’re purchasing. You should also always ensure that the surveyor you choose is a member of the Royal Institution of Chartered Surveyors (Rics) or the Residential Property Surveyors Association (RPSA).
Level One – Home Survey / Condition Survey
A basic level survey, typically suitable for newer, modern properties in good condition. It will highlight major issues but not go into lots of detail.
Level Two – HomeBuyer Survey / Home Condition Survey
The most common level of survey. It goes into more detail about the property’s condition, including looking out for specific issues such as damp and subsistence. It can also advise you on the repairs that are likely to be needed. A Level Two survey is suitable for most properties.
Level Three – Full Structural / Full Building Survey
The most comprehensive type of survey, covering the property’s structure and condition in depth. It is suitable for very old properties, those in poor condition, or if you have major concerns.
What’s the difference between searches and surveys?
In the conveyancing process, searches are carried out by your conveyancer and help uncover legal information about the property, while surveys look at the condition of the property itself and are typically carried out by the mortgage lender or an independent survey company.
Does the solicitor arrange a survey?
No, your solicitor or conveyancer will not arrange any surveys of the property. Your mortgage lender may arrange a mandatory survey to inform their decision on whether to lend against it. As the buyer, you can also choose to instruct an independent company to carry out a more in-depth survey or one that focuses on specific issues.
A Guide to Conveyancing
For more information about the conveyancing process and what to expect as a buyer or a seller, you can download our free guides which cover everything you need to know.
Guide to conveyancing for buyers:
Guide to conveyancing for sellers:
Contact our team
Location
Business Hours
