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Ashby de la Zouch

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01827 58391

New Build Conveyancing - buying a new build home

 

Get a free conveyancing quote here.

 

At Fishers Solicitors we have a team of new build conveyancers who specialise in new build conveyancing. Conveyancing for new build homes can be different to houses that have already been built, so our team take the time to work with the developers, understand the strict time limits and make sure your new home is purchased as stress free as possible.

Once you have found your dream plot for your new build home you’ll need to start getting things in place like your mortgage, paying your reservation fee, and choosing your conveyancing solicitor.  Sometimes the developer may have a recommended panel of Solicitors for you to choose from which can be advantageous as that firm of lawyers will already be familiar with the site.

The reservation fee you normally sort directly with the house builders. The fee can vary and it is deducted from the final price of the house.  You’ll have to have a mortgage in principle before reserving a plot which you can get from a mortgage broker.

When you know you are buying a new home, your solicitor can make a start on the initial paperwork. This can include proof of address and proof of identity, payment of funds on account and the completion of some initial paperwork.  An early start will be helpful as the clock is ticking down the reservation period set by the developer to secure your dream home.

In most cases, you have four to six weeks to exchange contracts after paying your reservation fee before you risk losing the plot.

 

What's involved with new build conveyancing:

After you have signed the Reservation Agreement with the Developer and paid the reservation fee, a copy will be sent to both sets of Solicitors involved.   The developer’s lawyer sends out the draft sale Contract and the accompanying legal pack containing all the relevant site documentation that is required to be reviewed and reported on, not only to you but also your Lender.  This pack usually includes Planning Consents, Warranty information, Building Regulation information, Planning Agreements, Road Adoption and Sewer Agreements, legal title information, draft Transfer, estate plan approval, Ground Reports and Management Company information.  

These documents are often large and complex and following their review, enquiries are made of the developer’s solicitor.  Searches are also put in hand and the mortgage offer must be received before an exchange of Contracts can take place.   To exchange Contracts the developer will require a 10% deposit to be paid.

Completion can be fixed if the house is ready to move into, or if not, is “on notice”.  This is when the developer determines when completion date will be and you can get the keys to your new home.

 

Why choose Fishers’ conveyancing solicitors to buy your home?

Fishers have a team of experts who have acted for new build purchasers for many years to provide this now bespoke service.  The work is specialist and is quite different to that of a second-hand property.  We are accomplished in achieving the tough demands of developers. The team at Fishers are friendly and approachable and will make sure you understand the unique documentation that a plot purchase conveyancing entails. We provide our clients with a long-written report on the relevant legal aspects and let you have documentation at the end of the matter which will be needed again when you come to sell.  We are happy to meet you face to face to go through any aspects you are unsure about either in person or over a Teams/Zoom call.  Fishers also ensure you will have a good and marketable title to the property to be able sell it in the future.   If you choose to engage us, you will have direct access to one of our new build experts affording you piece of mind.  We are also familiar with Part Exchanges and of course any related sale transaction too.

 

Fishers is independently regulated by the Solicitors Regulation Authority (SRA).

We’re accredited with the Law Society Conveyancing Quality Scheme, which signifies our position as one of the leading residential conveyancing teams in the country.

 

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