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Are searches etc compulsory?

4 replies

Kazzyhoward · 11/02/2023 11:41

I'm thinking of personally buying a tiny office that my SIPP pension scheme currently owns. I occupy the office under a formal lease and when my SIPP bought it, all the usual searches, asbestos survey, etc were carried out. Now I'm buying it personally, I don't "need" the searches, surveys, etc as I know they were done a few years ago and I actually occupy the office so I know all there is to know about it. Solicitors are saying they still need to do all the usual "due diligence" and won't do an "execution only" service just to do the sale contract. Is that normal and is it right?

OP posts:
CatOnTheChair · 11/02/2023 11:46

If you are buying in cash, they aren't essential, but advised.
If you are getting a mortgage, you usually need them as part of the mortgage approval.

Do you still have the previous search results?

DameCelia · 13/02/2023 22:40

The solicitors are unlikely to be happy to carry out the transaction on an execution only basis in case you come back and claim for something which would have been discovered if you did have searches.

ISaidDontLickTheBin · 13/02/2023 22:49

There's something called 'no search indemnity' but in not sure quite how it works.

huji · 16/02/2023 00:09

We became accidental landlords as had to move away for work then lived in accommodation provided by work. The flat we owned was on a normal mortgage. When we remortgaged to a buy to let the company slowed us to go without searches as they had been done when we first bought the property (albeit 12 years before)

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