Buying a New Build Property
Buying A New Build Property
We act for selling developers and individual purchasers and have great experience in this specialist area of the residential market.
Newly built properties are sold either “off plan” or “on plan” (sometimes called “built-out”).
“Off Plan” means the property is not built so the buyer is buying the property as shown on a plan or sales brochure rather than after a visual inspection. Most often a reservation fee and deposit will be payable when buying off plan and it is important to check whether and on what basis these are refundable. Purdie Maclean will check the developers’ legal title, planning position and importantly when buying off plan that there are safeguards to ensure the built out property matches the reasonable buyers expectations in terms of design, quality and timing of completion.
To commit to buying a property before it has been completed will feel like a significant leap of faith in the developer but our experience in this area enables us to give reassurance to our clients.
“On Plan” or “Built Out” means the property has been constructed before contracts are concluded. Purdie Maclean will check that the property has been completed in accordance with planning permissions and other consents and ensure the title will be acceptable for registration as a new title in the Land Register.
Whether buying off plan or on plan Purdie Maclean will check:-
- Planning sign-offs
- Building Control Completion Certificates
- Build Guarantees and Warranties such as NHBC
- Estate Roads
- Utility provisions
- Liability for maintenance of common areas
- Delayed completion provisions
Purdie Maclean also have extensive experience of the Help to Buy Scheme, Help to Buy ISA’s and dealing with new build mortgages.
Our experience acting for developers means we know what legal documentation is needed and expected from the developer and what searches and enquiries the buyer requires to obtain and pay for themselves. Builders’ missives (the sale and purchase contract) are often issued by Builders Solicitors with a statement that they are “not negotiable”. There are however some areas Builders will negotiate on and we use our skill and “know how” in this area to get you the best deal possible.
Purdie Maclean provide a quality service supported by strong communication with other parties in the transaction.
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