New Build Properties
New-build properties come with their own particular set of issues, so it is imperative that you chose a conveyancer who has experience in the purchase of a new-build. Property Law Partners have in depth knowledge and experience of new-build conveyancing.
The construction of any new property requires planning permission, so the first thing we will do is check that the appropriate authority has been granted and the property constructed precisely in accordance with the planning permission. When a property is part of a new estate, the planning permission will refer to the estate as a whole, not the individual plots. We may then have to ascertain that the entire estate complies with the planning permission.
Other issues that our experienced new-build conveyancers will check on are that appropriate agreements are in place relating to roads and sewers being adopted by the local council; that access rights and routes for other services are in place; negotiate on a completion date or on retaining some funds where any problems or snagging is to be resolved by the builder.
Making an offer on a new-build home follows a slightly different route to the typical purchase transaction. You may have to pay a reservation fee to reserve a plot for a specific period, usually 28 days. This reservation fee, which ranges from £500 to £1,000, will be deducted from the purchase price if you then go on to complete the purchase of the property. However, be warned – it is non-refundable if you pull out of the transaction. As you will be spending money from the minute you spot a place you want to buy, it makes having a specialist conveyancer on your side from the start essential. You will also need to have a mortgage agreed in principle before you can reserve a property, and again having a conveyancer instructed to deal with a lender is also good practice.
We have a team of conveyancers who speacialise in new build purchases. Contact us to discuss the purchase of your new home.