New build solicitors

Buying new build can be beneficial. Not only do you get to be the first owner of the property, but you also avoid the conveyancing chain completely. But buying new build property comes with it’s own deadlines and to do’s that only a specialist new build solicitor can fully assist you with. That’s where Talbots Law comes in.

New build property. It can often be a dream come true for homebuyers. However, when mistakes are made or complications arise, it becomes a nightmare. When it comes to understanding the complexities surrounding new-build conveyancing, a helping hand never hurts. If one thing is certain regarding new build properties it’s that time is of the essence. Often, contracts will be exchanged before the development of the property is complete. With the amount of paperwork involved and deadlines to meet from the developers, having an expert new build property solicitor can ensure no boxes are left unticked.

Why choose Talbots’ new build solicitors?

At Talbots Law, we know that property matters to people. That’s why we’ve worked over the years to build a team of property experts who can handle each transaction with ease. With new build property, you’ll need a specialist who knows their stuff: from planning permissions to plot purchases and property searches, we’ve got you covered. Our experience in these transactions means we’re fully equipped to get you on the move as well as providing tailored advice on the terms of your contract. While we may be experts, we speak plain English. That means we’ll never drown you in jargon, and we’ll never assume you know the ins and outs of new build conveyancing. We encourage our clients to ask as many questions as possible. After all, it’s your new home!

What’s the difference between new-build and regular conveyancing?

Well, for a start, it’s a new property. That means the sale is between the housing association and the buyer, rather than a previous owner. The difference here is that when you purchase the property, it’s likely that you’ll have only seen the show home. It’s a leap of faith, which is why we recommend the assistance of a solicitor.

New build conveyancing works on a tight time-scale. In the space of roughly 4 weeks from reservation, the developers expect the exchange of contracts to take place. For that reason, it’s advisable to have a mortgage offer as early as possible.

Soon after making a reservation on your new build property, the developer will send you – the buyer, a package of information regarding the property. This should include the planning permission, the Highways Act Agreement and the Water Industry Act Agreement and Bond. That’s when our new build solicitors will step in and ensure all the documents are correct and all necessary information has been provided. It will also give us a chance to raise enquiries with the developers if need be, as well as a few essential property searches.

Completion is also quite different. Though the contract exchange usually happens in this short period of time, completion date is subject to change due to various factors, e.g the weather. When the building is complete, you’ll be given written notice and completion will happen in the following 10 working days.

New build property insurance

New build properties are likely to be offered structural defects insurance. Without it, it’s not guaranteed you’ll receive compensation from the developer if you find defects in the property after the purchase. Most developers will subscribe to the National House Building Council (NHBC) scheme which offers a 10 year “Buildmark” warranty, or a similar scheme. That means that any defects or issues that arise in the first 10 years of ownership will be rectified. However, please note that the insurance does not cover decorative costs.

Looking to buy new build? Get in touch with the new build property solicitors at Talbots Law on 0800 118 1500 - their experience and expertise can guide you through to completion in no time.

 

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