A seller has limited responsibility with respect to disclosing certain matters such as physical defects, authorised use of the property for planning purposes etc.
It is the duty of the buyer’s conveyancing solicitor to advise his client on all matters related to the purchase of property. He should investigate as much as possible about the property, before the buyer enters into a contract. He should insist on a full structural survey to assess the physical strength of the building, check for authorised use of the property, etc.
Failing to make such inquiries may cause the buyer to suffer losses; he can even sue the solicitor for negligence. And finally, just a search of these issues is not enough; the solicitor should ensure that the buyer is aware of all information and implications of the proposed purchase. The buyer would then be able to make a decision on proceeding with the purchase, or if the terms of the contract are to be amended.
Who make the searches and enquiries?
The maxim Caveat Emptor is applicable to the buyer and it is his duty to check if necessary searches have been made and the results of such a search are satisfactory. The CML Lender’s Handbook insists that all searches on a property should not be more than six months old on the date of completion, but conveyancers often regard this check to be too out-dated for a buyer. While all the necessary searches mentioned in the Handbook need not be carried out, it is up to the buyer’s conveyancing solicitor to decide regarding the searches to be done and those that need not be made.
Photo courtesy: JosephLeonardo
