Flood searches- FS Flashcards
What is the purpose of a flood search in property transactions?
To determine whether the property is located in an area that is susceptible to flooding, such as from rivers or surface water.
What types of flood risk are typically assessed in a flood search?
Surface water flooding and river flooding are the two primary risks usually evaluated in a flood search.
How should the findings of a flood search be communicated to the client?
Any identified risks, such as high flood susceptibility, should be clearly explained to the client as part of the solicitor’s duty of disclosure.
What further action might be recommended if a property is found to be at high flood risk?
Commissioning a specialist survey to assess the property’s vulnerability and provide mitigation recommendations.
How might flood risk affect the decision to proceed with a property purchase?
The client may choose to renegotiate the price, commission further reports, or even withdraw from the purchase based on the flood risk.
What financial protection can be advised if flood risks are found?
The solicitor may recommend the client obtains flood insurance to cover potential damage.
What is one reason flood search results are especially important in conveyancing?
They help the buyer make an informed decision about whether to proceed, renegotiate, or decline to buy.
When should a flood search ideally be carried out?
Early in the conveyancing process, so that any issues can be properly investigated before contracts are exchanged.
