When it comes to purchasing a property, one crucial step in the process is the local search conducted by your conveyancer. This search is carried out with the relevant local authority where the property is located and provides essential information about the property you are buying. In this blog post, we will explore why local searches are essential and why it is highly recommended for cash buyers to consider having one.
The main purpose of a local search is to gather specific information about the property in question. Here are some key aspects typically covered in a local search:
Most people purchasing a property will do so using mortgage finance, so the mortgage lender will require that a local search is carried out. If you are a cash buyer, it is your choice to get a local search or not. It is highly recommended that a search is undertaken to provide peace of mind and all of the above important information is made available to you at the time of your purchase so that you can make an informed decision as to whether the property is right for you.
If you resell the property, you may find out during the course of the sale that there are issues such as an enforcement notice for planning conditions that has not been complied with and it would then fall to you to resolve the issue which could be costly and delay the subsequent sale of your property.
In conclusion, although local searches are not mandatory for cash buyers, their importance should not be overlooked. Undertaking a local search ensures that you have all the necessary information to make an informed decision about the property’s purchase. It offers peace of mind, minimizes the risk of future complications, and can save you from unexpected expenses and setbacks.
Contact us today to receive a quote for a local search and to make an informed decision about your property purchase, email email@example.com