New Build Homes
Purchasing a new build home can be fraught with challenges. Choose a conveyancing solicitor that specialises in new build home transactions.
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Buy your house with BHW Conveyancing
At BHW Conveyancing, we understand the unique challenges associated with new build home transactions, ensuring you receive the best advice and guidance. With our experience, we work diligently to complete all necessary legal processes swiftly, keeping your project on track by communicating effectively with everyone involved.
New build homes can sometimes come with additional pressures and set timescales required by builders. We’ll work to identify potential risks and advise you on how to mitigate them, while ensuring you meet any deadlines to secure your new build home.
The new build conveyancing process is more complex than the standard conveyancing process. It is vital that you choose the right conveyancing solicitor – preferably one that specialises in new build home transactions.
What is the process of buying a new build?
The new build conveyancing process can be more complex than the standard conveyancing process. As such, it is vital that you choose the right conveyancing solicitor, preferably one that specialises in new build home transactions.
The first thing to do as a buyer is to choose a conveyancing solicitor as soon as you can. This will facilitate a more streamlined process upon the acceptance of your offer.
Even though you’ll be buying a brand new home, a survey is still a good idea. With new build homes, you have different issues that may crop up compared to old homes. For example, structural mistakes can still be made. A survey helps you get an understanding of any existing issues, both visible and hidden, such as structural problems, drainage issues, or defects.
The developer’s solicitors will send a draft legal pack containing information about the development site, warranty and guarantee details, planning permission and other property-related documents like the following:
- The TA6 form: outlines any boundaries.
- The TA10 form: this gives details of the fittings and fixtures within the property.
- The TA7 form: this is only for leasehold properties and provides information about maintenance responsibilities, costs and rights to buy the freehold.
- Title documents including the register and plan and lease if the property is leasehold.
If you’re getting a mortgage, your lender will require property searches to be carried out on the new build.
On the other hand, if you’re paying with cash, these are not required, and your solicitor can suggest whether searches will be useful for you. Your solicitor will order the searches from the local authority which will offer important details about the property, like radon, contamination, floods, or mines. They’ll provide you with a report summarising the findings and answer any questions.
Your solicitors will carefully review all the property details provided in the legal package. They will then pose follow-up queries to the seller’s solicitor, known as ‘enquiries’, to clarify any specifics such as safety certificates or planning permissions. One of the main factors when reviewing a new build home is checking that the building complies with things like building regulations and NHBC inspections.
Once the responses to all the queries have been received and your solicitors are satisfied with them, they will compile a title report summarising their discoveries and explaining any significant information.
If you’re getting a mortgage for your home, your mortgage lender will send a special copy of the mortgage offer to your conveyancing solicitor. Once received, they’ll look closely at the terms and conditions within the offer.
After reviewing it, your lawyer will give you a detailed report explaining exactly what your mortgage requires from you. This report helps you understand what you need to do financially for your home purchase.
Once you’ve confirmed that you’ve gone through and understood all the reports from your solicitor and are satisfied with the details, your conveyancing solicitors will send you the contracts. These contracts need both the buyer’s and seller’s signatures, so you’ll have to send them back to your solicitor so that they can continue with finalising the conveyancing process.
These are the final stages in the property-buying process. The exchange of contracts is the point when everything becomes legally binding, indicating that all essential legal documents have been signed. Completion then occurs when the buyer gets the keys, and the developer’s solicitors receive the money. Quite often when buying a new build property you will be required by the builder to exchange contracts while your property is still being finished. This gives the builder the security to complete the build, particularly if you’ve chosen specific fixtures and fittings as part of the deal. However, how far in advance you’re asked to exchange contracts will depend on the progress of the house build at that point. In certain situations, the exchange might be several months or weeks in advance.
Your conveyancing transaction in the safest hands – and the reviews to back it up
What to expect from BHW Conveyancing
Here at BHW Conveyancing, we have a dedicated team of conveyancers who specifically handle new build home transactions.
They work closely with financial advisors, site offices, developers, and other solicitors to ensure a seamless process and that tight deadlines are met. With years of experience in this field, we understand the unique intricacies and challenges that come with purchasing newly constructed properties.
We’re well-informed about the most current regulations and procedures, and we excel in navigating the complexities of new-build conveyancing. BHW’s new build teams are recommended by many of the regions leading builders to their buyers.
Contact us today to learn more about our New Build Conveyancing Service and take the first step towards your new home.
To view BHW’s costs guide visit our pricing page.
Contact our conveyancing solicitors
BHW Conveyancing is part of BHW Solicitors Limited, which is one of the leading property law firms in Leicestershire and the wider East Midlands. BHW is a top ranked real estate firm in the East Midlands by the Legal 500, as well as being ranked in the Chambers & Partners legal industry guide.
We hold the Conveyancing Quality Scheme (CQS) accreditation and have been awarded the Lexcel quality standard by the Law Society. This recognises our impeccable standards of competence, risk management and client care practices.
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Frequently asked questions
The length of time that the new build conveyancing process can take will vary and will often be dictated by the build progress of your new build home. Most builders will ask for you to endeavour to exchange contracts within 28 days, however your ability to do this will depend on your circumstances and communication with your builder is key to keep them updated. Once exchanged you will often need to wait for your builder to say the house is finished, and they will usually give you two weeks notice to then complete the legalities. On average new build conveyancing will take around 12-16 weeks.
Whether it is better to buy a new build or an old house is dependent on what you are looking for in a home. If you are looking for history and character, an older home may be more suitable. On the other hand, if you are looking for a brand new home that has never been lived in before, then a new build property will be the best option.
New build homes have better insulation and energy efficiency ratings because they have been built to meet the latest regulations. Older homes have been lived in before and often you will want to update at least the décor, if not certain fixtures and fittings like kitchens and bathrooms. Your appetite for completing such work will be a factor in whether to choose a new build home or not.
On the flip side, when you buy a new build, you will be buying from a developer company, meaning there will be no chain. Sometimes, depending on the developer, they may offer different deals or incentives to make a new build purchase more appealing.