BBH Legal Services Limited has a specialist New Build Property Team.
Our New Build Team has vast experience in dealing with new developments for residential purposes which includes many schemes, stand alone purchases, part exchange deals whereby the developer will take your property in part exchange, First Buy transaction/government-backed schemes for the First Time Buyer and Shared Ownership.
It is important that you understand the transaction and any potential difficulties which may arise.
By appointing us to act on your behalf you can be assured we will:
- Let you have copies of all relevant estate documents
- Produce a full contract report on all documents received
- Advise on planning, building regulations and new build warranty conditions
- Deal with lenders' conditions for re-inspection or new build guarantees
- Liaise with developers’ site offices and legal departments
- Meet your deadlines for legal work, searches and inquiries wherever possible
What happens next?
We are familiar with the tight timescales of a new build transaction and have full understanding of pre-exchange issues and what must be done to ensure a smooth transition in the exchange of contracts.
We will keep you advised at each stage and help to co-ordinate necessary timescales and legal requirements to fit in as far as possible with your own practical circumstances. We strive to keep your worries and concerns to the minimum.
We appreciate that buying (and selling) a home can be stressful. We are able to offer a friendly and efficient service to help you through the conveyancing procedure. Buying (and selling) a home is likely to be the biggest transaction you ever make. It is important therefore that you are looked after properly.
We act for individuals who wish to purchase a new build property and have related sales either to individuals or by way of part exchange with the developers they are purchasing from.
The purchase of a new build property is very different and more complex than that of a property which is already built.
Our experienced New Build Team is fully aware of these differences and can advise you accordingly.
When you buy a new build property it is usually purchased off-plan and the developer will require contracts to be exchanged within a tight deadline. Once you have exchanged, the developer will build the property and will then obtain a guarantee from NHBC or a similar organisation.
Completion is usually required within a set period of time, which can range between 10 and 14 days notice being given by the developer. Our team will ensure that you meet every deadline and that everything is prepared beforehand and that you don’t miss out on your new home.
Why do I need the BBH team?
It is in your own interest to have professional advice at every stage and the BBH team are here to provide that service to you.
How long will it take?
If your mortgage offer is without problems and you return the documents to us promptly then a matter of days.
How do I know whats happening?
The BBH team will keep you up-to-date. If you have been introduced via a broker then they will also be kept up-to-date.
I have reserved a plot, what should I do Now?
In order to reduce the risk of losing your new build property, make sure that you instruct solicitors as soon as you decide to reserve a new build. Early appointment with your proposed lender is recommended to ensure you meet your Reservation Expiry Date.
Who will be responsible for the estate roads?
We will ensure that a Highways Act Agreement is in place. The agreement is made between the Local Authority, the developer and a third party providing an insurance guarantee. The agreement confirms that the estate roads are the responsibility of the developer until they become publicly maintained (adopted) by the Local Authority.
Will I know what your fees are up front?
Yes, we offer a free, no obligation quotation at the outset of the transaction. Our fees have proven extremely competitive and we do not charge for abortive transactions.