When considering your next home move, you will need to arrange good quality Conveyancing Solicitors in Liverpool. It can be tricky to decide between which is the best conveyancing firm to instruct. Many firms will offer “no completion, no fee” options, and quick turnaround times, however in truth, some parts of the process do take time due to being reliant upon a third party that is out of control of you conveyancer.
Each property transaction is different and sometimes things happen outside of anyone’s control however certain important steps in the process can take time.
When buying a property, having property searches done need to be considered. If you are buying with a mortgage, then you will have to carry out searches as your mortgage lender will require the main searches as a minimum, with some additional searches depending on the location and type of property being purchased. If you are buying in cash, there is the option not to carry out searches, but this is risky. It is always recommended that you carry out searches.
Property searches include:
- Local Authority Search – this search reveals any planning or building works carried out on a property, whether it is in a conservation area or is a listed building and will confirm if the highway leading to the property is adopted or private and therefore whether or not you have a financial obligation to maintain this road.
- Environmental Search – this reveals information about ground stability and flood risk effects to a property along with any current or proposals for renewal energy farms or power plants in the vicinity of the property
- Drainage and Water Search – this search reveals what the drainage and water supply provisions for the property are, whether it drains to a septic tank or is on mains supply. It also reveals other information about internal flooding risk and whether or not the property is served by a water meter
- Chancel Search –this search reveals if the property is built on church land and whether or not you as the new owner will have a financial liability for the maintenance of the local church whose land the property is built upon
- Coal Search – this search reveals whether or not the property has been built on former coal mining land and therefore at risk of ground stability issues. This type of search is only recommended in areas known for mining such as parts of the North East of England or parts of the West Midlands.
If you are buying a property with a mortgage, you will need to meet a certain number of requirements set by your lender and provide supporting evidence of your financial position. This can take time and it is often advisable that you work with a mortgage broker or financial advisor who can guide you through the complexities of this process.
Your conveyancer will raise a series of enquiries on the property both of a legal and technical nature but also observational enquiries that you have the option to raise, such as boiler servicing or repair works required to the property. Depending on the nature of these enquiries, the type of property you are buying and where this is, it can take time to resolve these especially if there is a negotiation between the buyer and seller over any remedial works and costs.