Buying a new build or newly converted property often requires particular skills from your solicitor.
The new build property seller – the builder – will often want an upfront deposit from you, before contract papers for your new build property purchase will be issued. You will want your solicitor to be familiar with the issues that can arise as to the amount of such pre exchange of contracts deposits and their contract status.
You will often be required to exchange contracts within a relatively tight deadline for your new build property purchase – often 28 days or less. You will need your solicitors to be able to operate under tight deadlines, and to be able to liaise effectively with you, your new build property sellers, and anyone else involved in your property purchase and in any related property sale.
You will need advice from your solicitors about the potential pitfalls of buying a new build property off plan, about the contract terms re the completion of the new build property, what you can expect the new build property seller to agree to in the contract, the arrangements for checking the new build property before completion, the process for handover of the new build property including the necessary procedures for obtaining any mortgage monies on the new build property (special procedures apply), and dealing with the particular requirements of the Land Registry for new build property purchases.
Fortunately we are used to working with new build developers and their legal departments and new build property sales teams. As solicitors we are often asked to act on developments by new build property developers, and we are regularly asked to act as preferred solicitors for new build property buyers by the developers as they respect our ability to deliver prompt and effective advice to new build property buyers.
We have a great deal of experience as solicitors in dealing with new build developments for both freehold and new build leasehold apartments including holiday apartments, shared ownership developments and sheltered housing and retirement developments.
Benefits to you
- Let you have copies of all relevant estate documents
- Produce a full contract report on all documents produced
- Advise on planning, building regulations and new build warranty conditions
- Deal with lenders conditions for reinspection or new build guarantees
- Liaise with developers’ site offices and legal departments
- Meet your deadlines for legal work, searches and enquiries wherever possible