Buying a new-build property differs greatly from buying an established property. This is mainly because you often have to commit to buy a new build home before it has even been built which brings with it a particular set of challenges in the conveyancing process. Often buyers will have only seen the show home and there will be no previous surveys. Additionally, the usual information forms specific to the property will not be provided by the seller but instead an information pack containing documents relevant to the development as a whole.
It is vital you instruct a legal professional to complete the new build conveyancing process on your behalf. Farleys Solicitors have vast experience of helping clients purchasing new build properties as well as acting for developers in the sale of such properties.
Whether you have an existing property to sell, are part-exchanging or are a first-time buyer, our property specialists will;
Liaise with the house builder’s solicitors
Read through and advise on the draft contract and lease or transfer deed
Flag up any enquiries that need to be made, for example, relating to access roads and drainage
Examine your new build insurance policy to check you have the necessary cover
Report to you on the documentation contained in the sales pack and the searches we carry out on your behalf
Deal with your mortgage offers including checking that the terms include the specific requirements needed for a new build
Deal with any Help to Buy mortgage or ISA you are using towards the purchase
Oversee the signing of your contract, lease, or transfer deed and mortgage deeds
Send your deposit to the builder’s solicitors on your behalf on exchange of contracts
Arrange for payment of any Stamp Duty Land Tax to HMRC
Prepare and send your application to Land Registry to register you as the owner of the property
We will keep you informed throughout the buying process to ensure that you are happy and to make your experience as stress-free as possible.