Learn About Radon
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.
The Radon Bond
If short-term radon screening tests were inconclusive, or the purchaser would prefer to carry out a full three-month test, it may be possible to arrange a ‘radon bond’.
In order that radon testing doesn’t hold up property transactions the solicitors on both sides can agree a ‘radon bond’ wherein a sum of money from the purchase price, agreed upon by both parties, is retained by the solicitor for a set period of time whilst testing is carried out. An official radon bond occurs when both parties sign a contract that outlines how the bond will work.
If the test shows low radon levels and that no further action is necessary, the bond money is released to the seller. If the test shows that high radon levels are present and that remediation is necessary, the work is paid for from the bond money; any excess is released to the seller.
In order for the radon bond to work, it must support and be fair for both parties and therefore reflect reasonable costs which will be enough to cover the costs of any remediation work required. In line with the advice from the UK Radon Association, we recommend that a sum of £1,500 - £4,000 is appropriate in most instances, and that the time limit for using this is six months from completion.
RPW Radon Wales are highly experienced in the testing and mitigation of Radon gas. Contact us today and we can provide a quote.