house purchase questions

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tali122 | 20:02 Mon 26th Jun 2006 | How it Works
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which is more likely to highlight problems in a house purchase -the surveyors valuation or conveyancing local searches ? -is it worth doing an enviromental search for a resendtial street -do comprehensive searches give me more "bargaining power" to find faults to reduce the price ? - and do vendors reduce the price or will they gamble for the next potential purchaser -what would you do if you were a purchaser AND also as a vendor?


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The surveyor finds problems with the property itself , the local searches find problems with the immediate area that affect the property.

If I were buying a property more than 30 years old and/or unusual in any way I would have the most comprehensive survey available. You should scrutinise the searches and do your own homework of the area.

I would use any problems that come to light to haggle the price - if I still wanted to buy.

If I were the vendor and the buyer found too many faults I would want to know why the heck he still wanted to buy it!
The environmental search checks if any near neighbour has permission to store chemicals, store or dispose of rubbish (licensed tip), has permission to extract water from a borehole, or permission to dispose of effluent into a watercourse - that sort of thing. I'm not convinced its worthwhile in a residential area because if one has one's wits about one, you'd have done such a tour around the immediate area anyway. If its a mixed area, with some light industrial premises, its maybe worth having.
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thanks both for info, i am very familiar with area as i lived there for 28 years! but was wondering whether known info that becomes "official "on a conveyancing search gives me scope for negotiation on the price

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