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Guide to buying your new-build home

New-Build Homes

Conveyancing refers to the legal process of buying a home. The process of buying a new-build is similar to buying any other property. However, there are some differences and some key considerations you should be aware of.

Our guide to buying a new-build home is designed to help you understand the process.  As specialist new-build solicitors, Oliver & Co can help you buy your new-build home.

1. Contract pack 

Contract pack received from Seller’s Solicitors. We will review, raise enquiries and chase responses in 7 days.

2. Searches

Searches have been ordered and may take up to 4 weeks to be returned. We will report to you on these once received.

3. Mortgage offer 

Mortgage offer received. We will report to you on your mortgage offer, if applicable.

4. Replies to enquiries 

Replies to enquiries received. We will review and report to you with contract documentation for signing.

5. Signed documents

All documentation received from you in readiness of exchange and completion. 

6. Dates agreed

This might be a fixed completion date or completion ‘on notice’.

7. Exchange of contracts

We have exchanged contracts and all parties are now legally bound to complete. 

8. Completion 

Completion has now taken place and you can collect your keys from the site office and begin moving into your new home. Congratulations!

Reservation Agreement

This is a fee paid by the buyer to secure the property from being sold to another buyer. 

CML Disclosure of Incentives

This contains details about any incentives or discounts being offered. 

New Build Warranty

Taken out by the developer, provides protection to the new owner from any defects.

Section 38 Agreement

Used when a developer constructs a new road that will be adopted and maintained by the Local Highway 

Section 104 Agreement

Sewers and pumping stations, which will be adopted by the local water authority.

On Notice

A fixed completion date cannot be given as the property is not structurally complete.

Long Stop Date

A date by which completion must take place, completion must take place on or before this date. 

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