Are You Buying a New Build Home?
We routinely advise clients buying freehold and leasehold properties, with and without mortgages, as well as those taking advantage of schemes including Help to Buy and part exchange.
We are vastly experienced when it comes to advising clients purchasing new build homes and in dealing with the somewhat unique challenges that this can present.
New build homes and conveyancing
It goes without saying that a new build property will not have been bought or sold before, so it is even more important that you instruct a solicitor or conveyancer who will conduct thorough searches and checks on your behalf and knows the right questions to ask at every stage – to ensure that everything is as it should be and your interests are protected.
You will want to understand whether the property is freehold or leasehold and if any ongoing ground rents or service charges will be payable, that the property has the appropriate planning permission and has been built in accordance with this and to the required standards, that access roads have been (or will be) adopted, that utilities and sewerage are properly in place and to be aware of any restrictive covenants that apply, which may affect your future plans for the property (for example, your ability to extend it or make certain alterations).
When buying a new build home, the house builder will normally insist on a deadline by which you are required to exchange contracts – typically between 21 – 28 days. You will therefore need a conveyancer or solicitor who is actively and independently working on your file at all times, to progress matters as quickly as possible on your behalf. We have an excellent track record of helping our clients to meet these relatively short timescales, as well as negotiating mutually agreed extensions with house builders when required, in order to successfully exchange contracts and complete purchases that are held up for reasons beyond our control.
Our established relationships with estate agents and surveyors, mortgage lenders, brokers, house builders and other solicitors or conveyancers, combined with our hands-on knowledge of the region, can help to further minimise the likelihood and impact of any unforeseen issues or costly delays. If an issue does arise, it is likely that we will have seen it before and, crucially, know how to resolve things quickly and cost-effectively for you.
Our highly experienced team of Residential Property & Conveyancing solicitors, in Reading, Henley-on-Thames and Wokingham, is here to help, with the aim of making everything as simple and straightforward as possible. You may find our guide to 'Choosing a Conveyancer' (PDF) helpful.
