Buying a home is more than identifying a house for sale and paying the requested amount of cash. Conveyancing with a conveyance solicitor, explains the Conveyancing Network, is the legal process of home ownership that you must go through if you want to buy a house.
Knowing what the process entails is important to avoid surprises down the road. One of the major steps in the conveyancing process is conducting property searches.
Why conduct property searches?
There are things about a property that you will not know upon viewing the house. A conveyancer conducts legal searches to reveal important details you should know about the property you are about to buy. Your solicitor will require you to conduct some searches, but your lender will require them to protect themselves from any liabilities the property may have.
These searches that happen during the conveyancing process include:
Title Plan and Title Register Search
The title register and title plan prove the seller’s legal ownership of the property. This search often happens at the Land Registry.
Water Authority Search
This search seeks to find out how you will get water on your property. The search also reveals whether there are any public drains on your property, and how they might affect building works.
Local Authority Search
The Local Authorities conduct this search with the purpose of determining whether there is a possibility of a road that runs through your property, or perhaps a gas supply under your land.
You will need this report in more than one instance in your home buying process. This contains details on landfill sites, ground stability, flooding predictions, and contaminated land around your property.
Location Specific Searches
In some instances, a buyer may request the seller to conduct searches depending on the property’s location or due to specific concerns. This might include earthquake, avalanche or flooding risks.
Conveyancing is an inevitable process in the home buying process. It is important to know that the above searches are not free. Their costs and the waiting period varies before you get a report. Nevertheless, getting the property searches with a conveyance solicitor makes the whole process of buying a home a whole lot easier.