Solicitors & Property Purchase
Within the conveyance process we do undertake a Radon Gas Test, which is the only reliable guide to the level of radon in a building. It is a measurement over a period long enough to average out short-term variations in radon levels - this should ideally be three months.
If this is medium to high, we would recommend that the property is tested for radon before exchange takes place. If, due to the time it takes to undertake a full search, this is not practicable then a Radon Gas Bond is entered into.
With a Radon Gas Bond the buyer and seller agree on a likely sum of money - enough to cover typical radon reduction costs (normally between £750.00 and £4000.00).
The money is taken out of the buyer's paying price and held by a third party (for example, the seller's solicitors) until the test result is known and any reduction measures have been done.
Both parties sign a contract that lays down how the bond will work. If the test shows there is no problem, the bond money goes to the seller. If the test shows that there is a problem, reduction work is paid for from the bond money; any excess is returned to the seller