What is property search? How does it relate to home buying? The government said that the property search influences your plan to buy a home. So, property search plays an important role to home-buying plan. That is our definition now.
Yes, property search is one of the best ways, mostly the best tool, to help you find the right property (Home) you are going to buy.
In this article, we’ll focus on explaining the property search that everyone needs to buy a home.
About Property Search
Property search is also called a conveyancing search. It is like an investigation made by your solicitor to find out more information about the property you want to purchase, in this case, it can be a home. In the process of home buying, the solicitor conducts many ways of searching involving the local authority and other parties.
The property search usually searches for three main points. They are the local authority, water and property and environmental. The search includes some aspects like planning permission for future development. Planning permission will impact not only to the property but also to the quality of the ground where the home is built and the drainage system.
In home buying process, the home buyer must complete the property search and have it approved before he exchanges the contact and legally commit to buy the property.
How Long Property Searches Take
How long a property search take depends on the local authorities that manage it. There are more than 340 local authorities in the UK where the property searches are managed differently from one state to another. But generally, it takes from 48 hours to several weeks.
As we have mentioned, the property searched are managed differently depending on where you live in a state, thus, the method of conducting property search is also different. In this regards, online search takes only a short time. You will receive the result electronically through the online portal or email. Surely, this will be faster.
In comparison, property search application that you register through the Land Charges departments will usually takes longer as they have only small teams to work. Thus, it will also be longer to receive the results.
Local Authority Searchers
Local authority searches provide you a service for property search. They will search the very important information you need in detail. This will let you feel peace in mind as you will obtain all of the information about your future desired home beforehand.
In this regard, there are two results of property search results you may derive. They are LLC1 and CON29 result. The LLC1 will report the listed building, tree preservation order area, improvement and renovation grant, and smoke control area. meanwhile, the CON29 result will contain proposals for new roads, contaminated land, planning decisions, building regulations and Radon affected area.
In buying home process, you’ll need both of the property search results.
Water, Drainage and Other Property Searches
Before the closing cost, it is crucial to conduct property search including an inspection on the water, drainage and other parts of the home. Moreover, the first-time buyer should ask for the water company to be responsible with the property’s maintenance.
Environmental Search
An environmental search has a purpose to identify the land that the property used previously to create a potential risk. This search will identify some issues dealing with the landslide, subsidence, contaminated land because of the historic landfills and waste sites and the risk of flooding from the rivers close to the area. Other environment property searches usually include the routine searches depending on the property location.
Mining Search
When it comes to buy a new home, you will also be required to carry out a mining search. It is required when the property is located in the mining location. This is due to the risk that your future home may have in the future. This search is usually conducted for the lender’s benefits.
Land Charges
Land charges are also ones of the property search. However, it is managed and taken when a home buyer must be dealing with the unregistered land, leading to the uncertainty of the property ownership. This type of search also highlights the land restrictions, estate contact and mortgages.
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Common Registration
Common registration is addressed to the home buyers if they want to buy agricultural land, or the land bordered in a rural areas or village.
Overall, property search is compulsory for home buyers. It is aimed to identify whether a property you want to buy is in trouble or not. It is also to find out that your future property carries no problem for your future. Thus, if you are a home buyer, you should conduct a property search before finally you make a purchase.
