Convenyancing lawyers

EssexHebridean

Hi Jasmine, we understand this is stressful, but it may be that your family member isn't being entirely up[front with you here. 

Standard procedure is that searches sent to the buyer by their conveyancer with instructions to read them, and then revert with any questions they may have - this is why I asked whether the searches were sent through, and if they were, what questions were asked at the time. 

It's relevant because if the searches were not sent through, then you clearly don't have all the information that was required to make an educated decision on the purchase - but it would be incredibly unusual for searches to NOT be sent. It's a very basic part of the process.  What often happens however is that the searches are sent through but the buyer never actually bothers looking at them - that is entirely more likely than them not having been sent through at all. 

If the searches were not sent, then that would be the basis of your complaint, although even then, that would rely on them also not being referred to in the report on title, at a guess. Otherwise the report is the point when someone should have flagged up that they had not seen the searches. 

Jasmine2020 said:

isnt the point the point of of hiring, a conveyancing lawyer- for them to explain the risks, and to clearly warn you against them?

Without any questions being asked about the searches, the conveyancer wouldn't be aware that there was anything that you were unclear about. they can't know what you don't know, if you see what I mean? 

lincroft1710

Can you state briefly exactly what the CON29M said please?

Ayr_Rage

Jasmine2020 said:

so a few members of my family and I chipped in and brought a property, My nephew did the main dealing of it. from what I understand the risks were not explained, and nothing in writing

The scenario seems to be "we've found a property that seems too cheap so if we all chip in and buy it for cash we can flip it for a profit" and you later find it unmortgageable due to information you were given but didn't fully understand or query prior to completing the purchase.

Whether there is any complaint going forward depends on what the solicitor said to your nephew or anyone else regarding the mining report and whether further action was required.

Edit : Cannot see any loss as yet as you still own the property, you can still sell it to another cash buyer if that report is not too damning.

Jasmine2020

Thankyou for your comments I will reply when, I have a moment soon

Chief_of_Staffy

The risks were not explained, as in risks specified in the searches? The searches will always contain information on risks, and they will be traffic-lighted so you can easily see which ones may need further research. The search advises the buyer on what steps they might sensibly take. That information is for the buyer, not the conveyancer. There's not much in there that the conveyancer can help with because it's entirely up to the buyer if they want to accept the risks or not.

BuyCurious

Jasmine2020 said:

A significant finacial loss is involved. We brought the property, cash to sell on at a profit. we discovered, the property was unmortgagable, as an offer pulled out

Does one mortgage offer falling through make it unmortgageable?  If Land Registry show nearby properties selling then they probably got mortgages under similar conditions, so the right blend of lender and buyer could be feasible for yours.

My family home in north Nottinghamshire had mining subsidence work fixed.  Insurance can be a bit tricky until you know which broker to go to - but plenty of buy and sell going on in the area.