New Build Conveyancing
The new build conveyancing process can be complex. But, with the right new build conveyancer by your side, you can get things moving more quickly. This buying option allows you to buy a property situated on a brand-new development. The property doesn’t even have to be built yet. You agree to a sale based on plans.
Before exchanging contracts, the contract documentation needs to be checked thoroughly to ensure that there are no special covenants restricting the use of the property. This is also to check if you have adequate rights of way over the new roads being constructed.
If there are any contract specifications that haven’t been fulfilled, we can contact the builder’s lawyer on your behalf. Builders usually have the right to make minor variations. However, our property lawyers can let you know whether the differences are a breach of contract.
As there is often no fixed deadline, you may require a completion date on notice. If you have a related sale, you may have to look into moving into rented accommodation, as your buyer may not want to wait for your new build property to be built.
Ready to get started? Get your conveyancing quote in seconds with our calculator. Or, pick up the phone to speak to a specialist new build conveyancer.
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We offer a no completion, no fee service. That means if your sale or purchase falls through, you won’t have to pay a penny. We can help you navigate the tight-rope walk of buying a new build. Sign up for our award-winning property conveyancing service today.
There are plenty of benefits to buying a brand-new home, and it’s a great option for first-time buyers. However, there are a few hurdles that other house-buying options don’t have. For more information, refer to our comprehensive new build property buying guide.
What’s The New Build Conveyancing Process?
The new build conveyancing process can have many twists and turns. But, in a nutshell, this is the standard process that is followed:
- Find a new build development and choose a property
- Reserve your home with a reservation fee
- Time to talk to a trusted new build conveyancer
- Get your paperwork organised and agree to a mortgage
- Wait for the property to be completed
- Once it’s ready, a completion date can be agreed
- Complete the purchase and move in!
- Check for snags (defects or inconsistencies with the original plan)
Other considerations and steps in the process include the following:
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Are you selling as well as buying? – Tying the two transactions together can save you money and make your move even smoother. However, with no fixed completion date, this is something you should consider when buying a new build.
Contact your seller’s property lawyer – We’ll review all the documents relating to your new home and discuss everything you should expect when buying a new build… then we’ll help you decide the best way to proceed.
Review your mortgage offer – If you are buying a home that is in the process of being built, your mortgage offer may be issued ‘subject to final inspection’.
Invite you to sign your contract – Once we have received all documentation from the builder’s lawyer, and are satisfied with the contract documentation, we will send you a Contract Report along with the Contract documentation for you to sign.
Oversee the exchange of contracts – At this point, the contract becomes legally binding. When the new build property is finished, the mortgage funds can be released to us. The deadline for the exchange of contracts is usually four weeks from the receipt of draft documents by us, or from the date your offer is accepted. However, most of the time, the deadline for exchange of contracts can be extended.
Final steps to move in – In most cases, completion is simply a matter of ensuring that you and the seller have completed your sides of the contract and that you’ve paid in full for the property.Once that’s done, we’ll liaise with the seller’s property lawyer to have the keys dropped off with the estate agent. Then, you’re free to move into your new home! If the surveyor is not satisfied with the build for any reason, you may not be able to complete the purchase. This is unlikely to happen, but if it does, you would be in breach of contract with the builder. This means you could possibly lose your deposit, or even be sued for any other losses which the builder has incurred. We will ensure all your questions are answered and mitigate any damages.
How Long Does the New Build Conveyancing Process Take?
Purchases come with more complex conveyancing as there are more risk factors involved. However, a good conveyancer should be able to organise a ‘long-stop’ completion date where the developer must agree to have the build finished and ready to hand over.
Completion usually takes place 10 working days after the developer has finished the building work and the property has been approved as structurally safe.
Why Choose PDR?
As there is no guarantee with a new build, you’ll want to know that you’re in good hands with an experienced new build conveyancer.
We offer plenty of benefits, including:
- No completion, no fee
- Instant conveyancing quote
- Efficient service
- Award-winning conveyancers
Get an instant new build conveyancing quote, discuss your property goals, and enjoy regular updates by telephone and/or email today.
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Frequently Asked Questions
There is often no fixed completion date in a new build contract. You will get a minimum of 10 days notice from the builder that the house is complete.
Instead of buying from a prior owner, you’ll be purchasing from a builder. You are buying on the basis of plans rather than an already built property. It’s a leap of faith, so we advise having a good new build conveyancer by your side to help things run more smoothly.
Your new build property will come with a series of warranties, including protection against structural defects that lasts up to ten years. We can talk you through these. If you ever need assistance, we’re never more than a phone call away.