Our property team has specialists who deal with both purchasers of new build properties and developers of residential and commercial sites.
A purchaser is often buying off plan and developers usually insist on a tight deadline for exchange of contracts and a reservation fee for the plot which is often non refundable if you change your mind.
This is a more complex process than buying a property which is already built, however, we will strive to make this process as stress free as possible.
Prior to completion there is an opportunity to inspect the property and produce a “snagging list “ which details minor defects. Remedial works are then carried out by the builder in an agreed timescale.
We will also ensure that you receive a guarantee from NHBC, Zurich or a similar organisation. This guarantee provides insurance against structural defects to the property and most mortgage companies will insist on this being in place prior to release of their mortgage funds. There may also be planning matters and restrictive covenants that affect the new build property and we will provide you with full advice in this regard. These matters can include agreements with the Local Authority for adoption of road, drains and sewers.
There may also be restrictive covenants imposed by the Developer which can include restrictions against future development and external alterations to the property, use of the property and keeping any livestock (including chickens and pigs!).
Building Regulation consent is also required to ensure that the property has been built to a satisfactory standard.
We specialise in providing a comprehensive service to Developers.
We can provide advice on S106 agreements, restrictive covenant concerns, joint venture schemes, conditional contracts and options.
We are happy to make site visits throughout the conveyancing process and try to ensure that an estate layout plan is approved with the Land Registry before we start selling off the individual plots.