Closing Searches – An Ellis & Ellis Explainer
What are Closing Searches? Typically, when a premises goes ‘Sale Agreed’ the selling and purchasing solicitors will generate a contract which commits the buyer to the purchase of the property (right or interest) as seen, yet subject to the contract’s agreed terms and conditions. Invariably the contract to purchase will include a deliberation on the outcomes of title investigations, in the form of closing searches. Closing searches thus can be defined as ‘…a series of investigations made to (a) establish title, (b) flag impediments or burdens, (c) address undertakings to lending institutions, and (d) provide the instructing solicitor with insights