Investigating the property: pre-exchange searches
A Practice Note that explores the intricacies of pre-exchange searches in property transactions, highlighting the importance of conducting these searches before parties become contractually bound. It distinguishes between essential searches that must be conducted in every transaction and those that are discretionary, depending on specific circumstances. The note discusses the reliance on search results by third parties, emphasising the need to understand terms and conditions associated with various types of searches, including those conducted via the National Land Information Service. The note also outlines the procedures for obtaining search results, addressing potential liability issues, and advising on further actions if search results raise concerns. This Practice Note is a beneficial resource for legal practitioners involved in property transactions, offering guidance on navigating the complexities of pre-exchange searches.
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