Home » Guides » Conveyancing » Guide to buying your new-build home
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.
Oliver & Co Solicitors Cheshire
Douglas House, 117 Foregate Street, Chester
Cheshire, CH1 1HE
Tel: 01244 312306
Email: law@oliverandco.co.uk
For over 50 years Oliver & Co have been providing expert legal advice to our clients.
Oliver & Co Solicitors is a trading name of Oliver & Co Solicitors Limited, a limited company registered in England and Wales (registered number 07034465) who are authorised and regulated by the Solicitors Regulation Authority, ref no. 533647. Our VAT number is 439 8429 07. A list of Directors is available for inspection at our offices.
Oliver & Co Solicitors Cheshire
Douglas House, 117 Foregate Street, Chester
Cheshire, CH1 1HE
Tel: 01244 312306
Email: law@oliverandco.co.uk
Since 1964 Oliver & Co have been providing expert legal advice to our clients.
Oliver & Co Solicitors is a trading name of Oliver & Co Solicitors Limited, a limited company registered in England and Wales (registered number 07034465) who are authorised and regulated by the Solicitors Regulation Authority, ref no. 533647. Our VAT number is 439 8429 07. A list of Directors is available for inspection at our offices.
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