enviromental searches

bcb_2

hi, im in the process of selling my house, but i have just been informed by my buyers that the enviromental survey has failed, at this time i dont know what on, i remortgaged the property late last year. my question is can the buyers still go ahead and ignore it if the lenders agree??

lynzpower

It really depends what they mean as failed.

Did they tell you?

TBH some of the things they can "fail" on could be things like th eproperty built on an asbestos factory or that its in flood area or similar

Where is the property, when did you buy it, is there anything around eg factories, rivers quarries or anything like that are local to you?

I had a case recently where an enviro rport "failed" it didnt fail it just highlighted potential concerns ( it was on the thames and prone to flooding apparently in years to come- however, lots of new build people in a huge development right next door all managed to get mortgages)

Who has told you this your EA? Can they find out whats supposed to have been written?

bcb_2

thanks for your reply
my buyers phoned me earlier so havent seen the report will hopefully have a look tomorrow, just been having a search for some information and it seems this search is optional?? need to speak to the solicitors monday

lynzpower

it really does depend on what the outcome of the search is - eg, if ytour neighbour is going to be bulding a chemical processing plant in the garden - whether the lender might take a view on how salaeable thier investment is should your buyers default

I take it you know nothing about any potential planning issues ( bail hostel next door) or anything as above quarry/rivers/ etc

bcb_2

i live in a residential area which is popular houses sell quick here, i think it can only be about the land it was built on old industrial land