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Anyone have experience of search indemnity?

7 replies

BG2015 · 20/06/2024 17:56

Need to push my purchase on and searches are taking for ever. How much does indemnity insurance cost. Buying the house for £182k.

Going to go crazy if I don't move out of my parents house soon.

Searches should have been back 16th, now being told it's the 28th.

Need to compete by the 12th July ideally.

OP posts:
Flubadubba · 20/06/2024 18:06

Are you buying with a mortgage? If so, check your lender will allow this. Many won't.

Tulipvase · 20/06/2024 18:08

When we bought a few years ago our solicitor did some sort of expediated searches, costs more money but was much quicker.

Mmmkaay · 20/06/2024 18:08

Which searches are you missing? I used to work in conveyancing, they all come back at different times. You wouldn't usually want to indemnify your local authority search for example.

BG2015 · 20/06/2024 18:15

I'm a cash buyer.

I think I'm just going to have to suck it up.

OP posts:
BG2015 · 20/06/2024 18:20

@Mmmkaay I've not been told what's missing. Very scant information from my solicitors.

I've stressed 12th July for completion but they just reply with.....we have put your proposed date on file.

Will they be working on my file in other areas or will it be on hold until the searches come back? I'm buying a leasehold property so I'm expecting that to be an issue too.

The vendor of my onward purchase is mortgage free and the chain stops with her.

Is a 12th July exchange & completion (can do both on the same day) feasible if searches aren't due back until the 12th? That's only 10 working days from 28/6 - 12/7.

OP posts:
BG2015 · 20/06/2024 18:21
  • should say 28th
OP posts:
Mmmkaay · 20/06/2024 18:24

They will be working on other areas - the searches are just one thing they check. I'd email asking specifically which searches are missing (likely to be the LAS - local authority search) and then you can contact the Land Charges department at your local authority and find out how long they are taking. If you know when it was requested that should give you an idea of when it's due out.

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