Who should conduct searches and raise enquiries?-FS Flashcards
(8 cards)
Who is primarily responsible for conducting searches in a property transaction?
The buyer’s solicitor is responsible for carrying out conveyancing searches to uncover potential issues with the property.
What legal doctrine underpins the buyer’s responsibility to uncover property issues?
The doctrine of caveat emptor (“buyer beware”), which places the burden on the buyer to investigate the property’s condition and legal status.
What is the solicitor’s duty when advising a buyer about property searches?
To highlight risks, make recommendations on searches, and advise the client in writing, even if the client later declines to act on the advice.
If a client refuses to follow their solicitor’s recommendations on searches, who bears the risk?
The client, provided the solicitor has documented their advice clearly and warned of potential consequences.
What is the term for the detailed questions a buyer’s solicitor asks the seller about the property?
Inquiries—part of due diligence, designed to extract information that the seller is not legally obliged to disclose voluntarily.
Why must solicitors recommend searches even if they’re not mandatory?
Because some searches reveal critical site-specific risks (e.g. flooding, contamination) that may affect the property’s value or suitability.
In the scenario where a lake is near the development site, which specific search should be recommended?
A flood search, to assess whether the land is at risk of flooding, which may impact development plans.
What distinguishes the solicitor’s advisory role from the client’s decision-making role in searches?
The solicitor informs and recommends, while the client decides whether to authorise and pay for those searches.