Buying searches from previous buyer that pulled out?

[Clevs]

My buyer pulled out a couple of weeks ago just as we were about to discuss dates and exchange contracts. I've got another buyer though after accepting an offer this morning.

Our seller's agent suggested getting in touch with our solicitor to ask if our new buyer can buy the searches that have been done already by the buyer that messed us around pulled out.

A quick Google search reveals that this is possible I think, but how does it work? The agent said searches are valid for 6 months, Google tells me 3-6 months.

If our new buyers were to do this, do they just pay what the first buyer paid to our solicitor, then he gives it to the first buyers solicitor to refund her? Or another way?

We're in a rush to sell and are ready to exchange on our purchase so anything that speeds up the process will help.

Yes it is possible, but how old are the searches now? Your solicitor would have to contact the previous buyer's solicitor to ask if the previous buyers are happy to sell the searches and then they and your new buyer would need to agree a price for them, all negotiated through the solicitors. Solicitors don't generally offer much of a discount, so the buyers may decide to obtain their own up to date set, or if the lender (if they are obtaining a mortgage) insists on new searches being done, particularly if they are over 6 months old at completion.

Generally speaking, it is the local search that takes the longest to be returned, but all searches would be done alongside the rest of the conveyancing work anyway, so the length of time it takes shouldn't really be an issue.

We did this, as did our buyer. Both times; the buyer with the searches named a price (ours were the same price paid, our buyer paid slightly more to avoid the wait again so the old buyer made a tiny profit). In all cases, the buyers solicitor said the price and bank details; payment was made to the solicitor, searches were sent over 24 hours later.

I'm not sure how old the searches are exactly. We accepted the offer from the first buyer in November. I'm guessing they probably weren't done before Christmas (but that's a complete guess) so even if they were done in January we're looking at 5-6 months max. We didn't get our searches on our purchase back until a couple of months ago, so if it was the same for our buyer then they are definitely within the time limit.

I'll approach the solicitor and see what they say. Thanks all for the replies, glad to know that it is a possibility.

Can anyone help PLEASE I'm executor of my late dad's estate we sold his home but buyer pulled out week 19 yep 2 days before completion, we now have a new buyer, who intends to buy the searches from previous buyers as they are not even a month old. , he is a first time buyer and there is no chain . How long if all goes to plan might this take I've been warned in normal circumstances and with short chain its taking 20 weeks. . I'm paying buildings and contents insurance and reduced council tax as 6 months free has been and gone the estate owes me so much money to the point its no causing serious financial hardship for me I can't pay my own rent I need this done and over and above I miss my parents so much having lost them within weeks of each other . I go to the empty house and call out everytime expecting a answer so other than financially needing it gone emotionally I do to. I also have a equity loan company breathing down my neck. As my father had taken a equity loan out to pay my sisters mortgage off. Might add soon as she got his money he didn't see her again and only got a very occasional phone call. PleSe help any advice so welcome

Has probate been granted?

If it has, and if they buy the searches, it could be as fast as 2 months. 5 is what they tell people in chains, usually.