What to expect the first time you buy a new build house

Last updated on December 29th, 2020 at 08:19 pm

A new build house may be purchased once it is completed and move-in ready, during the construction process, or even before construction has started, known as buying “off-plan.” It is important to note that the legal conveyancing process is quite different from purchasing an owner-occupied property. Indeed, it is often more complicated than other types of property conveyancing. Common problems encountered include non-compliance with planning regulations and developers failing to complete agreements on sewers and roads. However, one advantage is that there is no conveyancing “chain” on the purchase.

 

When buying a new build house, you will need an experienced property solicitor with expertise in new build properties. Short reservation periods coupled with additional checks, such as building regulation consents, planning permissions, access rights, and ground rent issues, all require a skilled conveyancing solicitor. If these aspects, along with a host of others, are not checked, it may end up costing you significantly in the future and may even impact the value of your home.

Here, Graysons’ team of conveyancing solicitors in Sheffield explain the legal conveyancing process when buying a new build house.

 

What happens once I have found a new build house I want to buy?

Once you have found a new build house that you wish to buy and had an offer accepted you should instruct an experienced conveyancing solicitor, such as Graysons’ team of new build property solicitors in Sheffield and house buying solicitors in Chesterfield.

You should instruct a property solicitor as soon as you have reserved your new build house as developers often give the buyer only four weeks before exchange of contracts. If you do not reach exchange of contracts within this time frame, you may risk losing your reservation fee. This is why you need an experienced property solicitor who intimately understands the legal conveyancing process for new build homes and can work within the time restraints imposed.

With years of expertise in property conveyancing, including conveyancing on new builds, our conveyancing solicitors in Sheffield and Chesterfield will be able to ensure your new build home purchase goes through without any problems in a timely fashion, ensuring your legal rights are protected.

 

Do I still need property conveyancing searches when buying a new build house?

Yes, you will still need to do property conveyancing searches when buying a new build house. Searches are an essential part of the legal conveyancing process as they highlight any potential problems that may affect the value of the property, or result in additional costs in the future.

Property searches typically take around three weeks to complete. However, they may give rise further enquiries and prompt additional investigations by your property solicitor. Some of the typical searches Graysons’ team of property solicitors in Sheffield carry out on new build homes include local authority searches, land registry searches, water and drainage searches, and environmental searches.

Graysons’ team of conveyancing solicitors in Sheffield and solicitors in Chesterfield will be able to advise which searches are required and carry them out for you.

 

What is the house conveyancing process for a new build home?

The house conveyancing process for a new build home is more complex than buying an owner-occupied property as additional checks need to be carried out.

In addition to carrying out all the necessary searches on the property, your conveyancing solicitor will check planning permissions,  building regulations and access rights, as well as ensure there is a new home warranty scheme, such as an NHBC in place. If the new build house is leasehold, your property solicitor will scrutinise the lease and make you aware of the conditions. Additionally, your conveyancing solicitor will check who is responsible for maintaining the common areas and maintaining the buildings, as well as check whether there are any ground rent charges.

 

How long does the house conveyancing process take on a new build home?

The length of time the house conveyancing process takes on a new build house depends at what stage of construction the property is at. It can take just a matter of weeks or several months. If the house is ready to move in, the developer will often insist that you exchange and complete within four weeks. If the property is still at the construction stage, or has not even been built yet, a reservation fee is taken by the developer to hold the property, and a long-stop date is built into the contract by your conveyancing solicitor. This is the date by which the developer must complete construction of the property. Completion typically takes place once the house is built and final inspections have been made. This is when the buyer can create a snagging list, highlighting any issues with the house.

 

Do I need to complete a survey on a new-build home?

No, you do not need to complete a survey on a new-build home, however it is always recommended. Even new build homes can have issues with them due to rushed construction or inferior building methods. A survey can flag any potential problems with the house. If you do decide to have a survey done, you should arrange this as soon as your offer has been accepted. Your mortgage lender may still require you to carry out a survey.

 

Should I use the property developer’s property solicitors?

Many property developers put pressure on buyers to use their property solicitors. However you are free to choose the best conveyancing solicitor who meets your needs. Indeed, it would be best if you used your own independentconveyancer, such as Graysons’ team of Sheffield solicitors and Chesterfield solicitors, to ensure that your legal rights are protected, that there is a long-stop completion date in place, and to avoid any conflicts of interest.

 

Why should I use a property solicitor, such as Graysons’ conveyancing solicitors in Sheffield, when buying a new build home?

You should instruct an experienced property solicitor when buying a new build home. The right conveyancing solicitor, such as Graysons’ team of property solicitors in Sheffield and Chesterfield, will provide a streamlined legal conveyancing process and ensure the correct legal transfer of property ownership into your name. If you are buying a new home and need an expert new build property solicitor, contact us today.