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Not having Searches, potential roblem or not

vansboy
vansboy Posts: 6,483 Forumite
First Anniversary 10 Posts
in House buying, renting & selling
Hi All

The place I'm intending to buy, won;t need a mortgage, so I am able to 'save' £200ish by NOT having searches done, which a lender would normally require.

So am I saving, or putting myself at risk - what would the usually do, that they won't this time?

Thanks

VB

Comments

  • AnnieO1234
    AnnieO1234 Posts: 1,722 Forumite
    Putting yourself at risk. Without searches you have no clarity over flooding, mining etc which may mean you walk away due to potential problems down the line.

    X
  • mrginge
    mrginge Posts: 4,843 Forumite
    You don't need to fork out for buildings insurance either so thats another saving.
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Photogenic Name Dropper 10 Posts Second Anniversary
    I asked this question two months ago and was advised to do it... it's almost a new build too, but the advice was still to do it.

    What did I learn that I couldn't have learnt from Googling...? From memory, nothing.

    But I've done it...
  • G_M
    G_M Posts: 51,977 Forumite
    Combo Breaker First Anniversary First Post Name Dropper
    edited 4 June 2014 at 9:03PM
    You could cut out the solicitor as well if you wish. That's £800.

    It's all about risk - Maybe the searches would show up nothing alarming and/or useful. Or maybe they would show something.

    Out of interest, do you actually know what the searches are for?

    http://www.diyconveyance.co.uk/conveyance-searches.html

    http://www.in-deed.net/conveyancing/conveyancing-articles/conveyancing-searches
  • AlexMac
    AlexMac Posts: 3,048 Forumite
    Part of the Furniture Combo Breaker First Post Name Dropper
    I'm in the same position, and felt I didn't want the enhanced added environmental searches such as 'plan plus'. But my solicitor gently recommended and only quoted £175 for a combined search covering Local Authority (which I do want- as its a listed building), water/drainage (ditto) and Environment (dubious about). So I'm going for it as this is only 1-2% of total costs - ...or three tanks of petrol - ...or 12 rounds in the pub?
  • Annie1960
    Annie1960 Posts: 3,007 Forumite
    Tenth Anniversary Combo Breaker First Post Name Dropper
    Perhaps you should not bother with a survey either?

    Oh, and don't bother changing the locks on the door when you move in, in fact don't bother having locks at all. You could remove them from the front and back doors and sell them on ebay and make some money that way.
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Photogenic Name Dropper 10 Posts Second Anniversary
    Annie1960 wrote: »
    Perhaps you should not bother with a survey either?
    I didn't, but it is fairly new and I looked up the developers and saw what else they'd done/were doing etc.... and they're not 2 men and a dog throwing up houses willy nilly.
  • lollipopsarah
    lollipopsarah Posts: 1,333 Forumite
    Tenth Anniversary First Post Combo Breaker
    Are you for real? Sorry but new builds sometimes have the biggest problems.
    I say that from growing up in a new estate - dont ask!
    Peace of mind is worth the money too.
    xx
This discussion has been closed.
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