Waiting on local authority search strict timeline what options

iishappy

Hi we had an offer accepted on a property on the agreement of a 4 week exchange, we are just coming up 2 weeks, everything okay both solicitors v responsive we are now just waiting on the local authority search coming back that the solicitors are chasing.

The property we are buying we have rented for the last 20+ years, we are cash buyers, what could these searches throw up that could have a major impact on us? I have looked through some of the key points that the search should include and can’t see anything obvious that should concern us but I’m no expert so not sure.

Our solicitor is adamant we should not proceed until the search is back and even suggested going back and trying to renegotiate exchange date which they know can’t happen, so after reading about local searches I came across Local Authority Search Indemnity Insurance and suggesting this to our solicitor he seems reluctant to have the conversation and keeps redirecting and stressing how important the search results are.

Hopefully none of the above will be relevant if search is back in the next few days. If not any advice is the insurance appropriate in this situation? At what point should I instruct the solicitor to put insurance in place if needed. Thanks

user1977

Insurance is always an option, especially if you’re a cash buyer. I would just get insurance unless you have particular concerns about something which only a search would reveal.