Our dedicated New Build team delivers a tailored service to clients buying from a house builder or developer. Please contact Jill Cade on 01225 755656, or email her, to discuss how we can help you with you New Build purchase.
New Build Solicitors
We are recommended by house builders on sites across the South of England for our experience and knowledge in this specialist area.
Our New Build team has a thorough understanding of the ‘Help to Buy‘ and other government-backed schemes and how the process involved in buying from a house builder is different to a traditional purchase. If you have not been through it before, you will certainly have questions to ask when buying a new build property. In addition to the usual considerations, our team can advise you on:
New Build exchange deadline
Most house builders will set a deadline for exchange of Contracts, usually 28 days from the date that you reserve the plot. By this date, you will need to have your offer of mortgage. If you have a property to sell, your purchaser (and the rest of the chain below) will also need to be ready to exchange by the date specified.
When do you pay a deposit on a New Build House?
Check at an early stage the minimum deposit the builder will require on exchange. Many will insist on a 10% deposit. Others will accept 5%, particularly where the property is some way from physical completion.
Check what is included in the purchase price
Check carefully exactly what is included in the agreed purchase price. In particular, ask what equipment is included in the kitchen, whether carpets are included, whether the garden will be turfed and boundary fences erected.
New Build restrictive covenants
Restrictions are usually imposed on each plot owner on a new development. They will usually include restrictions against extending or altering the external appearance of the property, carrying on a business from the property and parking commercial vehicles and caravans outside.
New Build completion process
Unless the property is close to physical completion, few builders will agree a fixed completion date. Although they will give an estimated date, they will not commit themselves to a fixed date. This is mainly because adverse weather may prevent them from finishing the property in time. You will usually be required to complete on two weeks notice.
How to deal with defects in a New Build House
Before completion, carry out an inspection of the property and prepare a written list of any defects of unfinished items. Hand this list to the site office. Although you will not be able to delay completion if the defects are minor, the contract should require the builder to remedy the defects as soon as possible after completion.