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Searches - failed

4 replies

areyouhavingagiraffe · 17/05/2021 12:55

Hi all,
My solicitor is saying that the property I am selling has sailed the "environmental search" and the buyers solicitors is suggesting an indemnity. I have no issues with this, but I am surprised it has failed. I have managed to get two mortgages on the property (was shared ownership).....I don't recall being told about a failed search. My place is on a large development site in London, built in 2004/2005, on the Site of an old factory. My buyer has had a valuation of the property and ha a mortgage offer. I also have my mortgage offer for onward purchase and the T&C's don't state anything about sending on search results. Has anyone else experienced a "failed "search?

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Livingintheclouds · 17/05/2021 21:31

You can't fail a search as such, but there may have things come up on them of concern. Just get the indemnity.

areyouhavingagiraffe · 18/05/2021 08:22

Thank you @livingintheclouds. I am happy to get indemnity, this has been suggested by the buyers solicitors so I am assuming this is acceptable to them and also meets with lending criteria.
My solicitor said it had "failed" but unfortunately didn't have enough time to speak to me yesterday which was a little frustrating. He said they need to process their enquiries and then he will contact me. It's sooooo slow and worrying.

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HumourReplacementTherapy · 18/05/2021 12:11

That's a strange one!
Failed on what? How does indemnity help if it's 'failed' because it's been built on a mine shaft or is going to have HS2 routed through it?
Doesn't it depend on what it's failed on? Or do they mean they failed to order the search?
Disclaimer......
I'm not expert GrinSmile

areyouhavingagiraffe · 18/05/2021 12:56

No, not built on a mine shaft, and doesn't have HS2 through it. Built on an old factory site, used from 1930 to 1990's. Planning permission granted in 2003 with soil investigation, with conditions discharged by local planning authority. Site has 200 homes built in 2004/2005 and still standing.

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