Property searches
When you buy a property you need to satisfy yourself about anything that may affect
it.
Organisations that are often approached tend to have standard forms of questions
(called "searches") which they will answer for a standard fee. We offer a full range of
property searches but you need to decide for yourself whether the information you
are seeking is worth the expense. Some searches cost a few pounds. Others cost many
hundreds of pounds. There are over 50 different searches available.
It is the responsibility of the buyer to decide what searches he wants and to pay for
them. Since most buyers rely on mortgage funds to assist their purchase they must
also consider what legal searches their lender will require.
The most common legal search and one that is usually required by lenders is often
called the "local search". In its strictest form it is merely a search of the local land
charges registered against a property at the local authority. This can cover financial
and non-financial things which will not normally be disclosed merely by looking at
the deeds or inspecting a property but which will be binding on a purchaser even if
they do not know about them. Commonly the term "local search" is used to also
cover more general enquiries of the local authority but this still only covers things
specific to the property being searched. It is not a search of the local area. It may be
better described as a local authority search.
As part of our service with a property purchase we will arrange a local search (both
local land charges and other standard enquiries of the local authority), an
environmental search and a Land Registry search. If you are obtaining mortgage
finance to assist your purchase we will also usually carry out a bankruptcy search
against your name on behalf of the lender. We will not generally organise other legal
searches unless you specifically request them and provide us with the additional funds
needed to pay for them.
Our purchase estimates give a guide of £225 for the cost of the local search and
environmental search. This is broadly accurate for the cost when buying a property in
the area controlled by Fareham Borough Council. Costs can vary significantly
between different councils. Portsmouth City Council, one of the councils that
neighbours Fareham Borough Council, charged over £100 less than Fareham during
2010 for the same type of data. The actual cost you incur for the main search fees
will depend on the charges levied by the relevant council.