The process for a transaction of a new build property is known for having several, complicated factors that require completing on a tight time-scale.
As you would expect with new build properties, a buyer will often commit to purchasing a property before the developer has finished building the housing development. In some cases, the developer won’t have even started work. With this in mind, it is important to choose a conveyancer with the right expertise. At Bannister Preston Solicitors LLP, our conveyancing team have over 100 years’ experience dealing with new build transactions.
There are a number of significant factors to consider and actions to take throughout the three main stages of the transaction: agreement of sale, exchange of contracts and completion. These actions tend to differ depending on the conveyancing process adopted by the developer, but a few key items to consider are:
- Planning permissions
- Building Regulations consent
- Structural guarantees
- Checking for road and drainage adoption agreements
- Meeting developer deadlines
- Liaising with the developer’s solicitors
- Stamp duty tax
- Land Registry ownership
At Bannister Preston Solicitors LLP, we aim to make this whole process as simple as possible for our clients. To find out more, contact us today.