CILEx Conveyancing Level 6 Practice Exam

What is the purpose of the Report of Findings issued to the buyer?

To determine the final sale price To publish a public notice To record stamp duty details To provide a full picture and highlight issues to decide on exchange

Correct Answer:

To provide a full picture and highlight issues to decide on exchange

Explanation:

The key idea here is that a Report of Findings brings together everything uncovered during title checks, searches, and the buyer’s enquiries and presents it in a clear, actionable way. It highlights issues and risks that could affect ownership, use, cost, or future obligations, such as covenants, boundaries, planning or building-regulation concerns, or rights that burden the property. It also flags what remains uncertain and suggests possible actions—like asking for indemnities, renegotiating the price, or ordering further searches—so the buyer can decide whether to exchange contracts and on what terms. It isn’t about setting the sale price, publishing notices, or recording stamp duty.

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