Start searches before survey?

Deedoodee

Do people generally start conveyancing while waiting for the survey? Or is it better to wait for the survey before paying for searches?

I know waiting will add a couple of weeks. But not waiting potentially ‘wastes’ a few hundred if the survey finds something big. Can’t decide which would be better. No chain on the property. 

propertyhunter

You don't have a chain so take your time. Do it the way that potentially exposes you to less of a loss if you have to pull out. You would only delay by the time it takes to get a survey done. I got one done in 1 week and the report the next day. 

Have you had the draft contract pack from the vendor? Solicitors usually want to see the title first and check it with you before instructing searches anyway, so you might have time on your side. 

Deedoodee

propertyhunter said:

You don't have a chain so take your time. Do it the way that potentially exposes you to less of a loss if you have to pull out. You would only delay by the time it takes to get a survey done. I got one done in 1 week and the report the next day. 

Have you had the draft contract pack from the vendor? Solicitors usually want to see the title first and check it with you before instructing searches anyway, so you might have time on your side. 

Thanks. I’ve not had anything on this from the solicitor. I’ve just been told that the first step is to pay for the searches. 

propertyhunter

Check with your solicitor that you have the draft contract pack - that's the question to ask right now. That should, among other things, contain the title documents. Normally your solicitor will share the title plan with you and confirm that this is the property you viewed and are intending to purchase. They will then be in a position to instruct searches (and not get the property wrong). 

Thrugelmir

Deedoodee said:

propertyhunter said:

You don't have a chain so take your time. Do it the way that potentially exposes you to less of a loss if you have to pull out. You would only delay by the time it takes to get a survey done. I got one done in 1 week and the report the next day. 

Have you had the draft contract pack from the vendor? Solicitors usually want to see the title first and check it with you before instructing searches anyway, so you might have time on your side. 

Thanks. I’ve not had anything on this from the solicitor. I’ve just been told that the first step is to pay for the searches. 

Solicitors simply want to have the funds in hand to pay for the searches as soon as the green light is given. Solicitors then pay the third party providers directly.  If the transaction doesn't get off the ground then nothing is lost.