Its All Gone Wrong

KL62

Our EA told us it would be in our best interest to pay for it? In case this sale fell through and our next buyers asked for the same thing? And our solicitor advised it was a common search that some solicitors did but some didnt, as it was extra to the normal searches? Now im really confused

lynzpower

what is the exact name of the search ( it sohuld have a code number)

be aware the EAs wont want the sale to fall through any more than you do -but they are meant to be acting in your best interests- I cant believe they are suggesting you pay for a standard search!


( unless its an indemnity policy they need, but this is a sol-sol chatr not EA position)

Woody69_2

it will be an environmental search which is optional. It really is down to them not you to pay for the extra search.

KL62

this is what it says -
" this review is issuedin respect of the information contained inthe homecheck professional environmetal report 21437676. Based on the information within this homecheck proffesional environmental report, the enviromental risks identified could in certain circumstances lead to this property being described as "contaminated land" as defined by section 78(A)2 of part IIA of the environmental protection act 1990. The decision on whether property or land is ultimately identified as "contaminated" is a matter for the local authority or environmental agency. The report has identified the existence of former railways within 25m of the properrty. As a reult there is potential for significant ground contamination to exist beneath the property. The land uses identified have been derived from a detailed analysis or large scale ordinance survey maps dating from the 1840s to 1995. As the property has NOT received a certificate RPS is unable to confirm that contaminated land issues do not have an impact on the secuirty of the property for normal lending purposes.
The report highlights landfill within 500 metres of the property. It is recommended that you contact your surveyor and ascertain if the location of the landfill has impact on the value in this instance"

There you go, the thing is i dont get with this contaminated land thing, wont the builders hae gone through all this and received the ok considering it was built within the last 10 years? This certificate the property apparantly does not have is what the ftb wants us to pay for.

rizla01

The issue here is more likely to be the contamination risk rather than the landfill site, nearby.

Contaminated land only forms a contamination risk if the conntamination affects a third party, I.E. finds it's way into a watercourse or similar.

The land may have been cleared of contamination at the time of build but that is not to say that some hasn't seeped out since.

Best you can do is take out an indemnity against such occurances, provided it is cost effective. The buyers solicitor will usually advise the buyer to accept this.

You could pay out for a report and offer a copy of this to any neighbors (for a fee) Now this has been raised, bet yer bottom dollar that it'll come up if they decide to sell and everyone will be paying top dollar for a repeat report.

KL62

Hmm on thursday night i spoke to 3 different neighbours on the same close as me who have sold in last 6 months and none of them had heard of it, how come it hasnt come up in their searches ? The search is going to cost £75 which we are going to go ahead with on Tuesday. What is this indemnity to take out then? How much will this cost?

lynzpower

dont consider it.

If your neighbours havent needed it, its your buyer being over sensitive. I shuold know, I was an oversensitve buyer as a ftb- I paid for a mining search in central london :rotfl:

But I never expected my vendor to reassure me, if your FTB has concerns they need to seek out legal advice around those concerns. END OF STORY>

rizla01

You can pay for an indemnity insurance that will cover the purchaser against any problems that the (possible) contamination might cause in the near future.

Ask you sol or EA.

Problem with getting and paying for a report is that the report might NOT come out in your favour. What then?

[Deleted User]

I agree with some of the posters that your Buyer is being oversensitive and you shouldn't give in, however I am sure you don't want to lose the house you're buying and for the sake of £75 I would go ahead with the extra searches. Hopefully they won't find anything and judging buy what your neighbours said, chances are in your favour. Good luck!

KL62

Hi Van thanks, yes well there is that for the sake of £75, i think we were just peeved off when he first gave us the ultamatum and they way he asked for solicitors not to be involved, but after having a think and a talk we are going to go ahead with the search even for just our own peace of mind. The thing is if the report does come back bad, how come no know else on this road and estate has had any similar issues? What is also suggested, paying for the indemnity insurance for potential buyers, how much is this going to cost? and isnt this an annual thing?