New Build conveyancing by our specialist New Build Property Team
Purchasing a new build property is both different and more complex than buying existing property but also needs to proceed very quickly. To ensure your purchase is smooth and stress-free, make sure you get a conveyancing solicitor experienced in buying new builds and respected by Builders and Developers, our New Build Property Team is recommend by Taylor Wimpey in the London area.
Why does a new build differ from other conveyancing?
The sale itself will often be a sale of part of larger plot. This occurs when the developer owns the whole area of land and is selling off individual plots with properties.
Your chosen solicitor and you need to move quickly to reduce the risk of losing your new build property, make sure that you instruct Breeze & Wyles as soon as you decide to reserve a new build. You should be thinking about obtaining a mortgage offer as quickly as possible, well in before the exchange of contracts deadline date. You must therefore inform your lender of the exchange deadline as well as anticipated completion date (which will always be an estimate) and the name of chosen solicitor.
When it comes to the moving date, the developer will tell you in advance when the property should be finished. They usually allow you a seven-working day gap prior to moving in to inspect the property and produce a ‘snagging list’. This list will highlight to the builders any defects, either practical or aesthetic you have with the property. Your lender may also require a valuation of the property.
What does a Conveyancing Solicitor do in the purchase of a new build?
Your solicitor should be familiar with the tight timescales and deadline imposed by developers as well as a proven track record of achieving deadline dates for their buying clients. In addition they will have an excellent understanding of what pre-exchange issues and searches must be done. The developer will want a deposit for the property from you at the time of exchange; it is therefore vital that your solicitor has identified any potential issues prior to this point.
Advise you on the risks for buying new build property
Your solicitor should be able to offer you advice on the potential risks of buying a new build off plan as well of the risks of exchanging contracts before your mortgage offer is issued as many developers require you to exchange before your mortgage offer is issued; you will need specialist legal advice from your solicitor to ensure your hard earned deposit is protected.
How we can help your new build purchase
Our new build property team specialise in nothing but new build conveyancing, we offer a wealth of experience when it comes to dealing with new build transactions. We are frequently asked by developers to act as preferred legal advisors for new build buyers. Our experience extends to leasehold developments as well as freehold purchases, this includes; retirement complexes, shared ownership / housing association developments and sheltered housing.
Who to contact? Our specialist New Build Property Team:
Contact John Appleton