Buying a new build home is something that appeals to many people for a multiple of reasons. The process of buying a new building is different to buying a house that has already been lived in – here is a rough guide…
Before you begin to start any legal proceedings relating to the purchase, you will firstly need to pay a fee to reserve the property that you intend to purchase. Once the sale completes, this will then be taken off the price of your purchase, so it isn’t money that will be lost.
You also need to ensure that you can get a suitable mortgage for the property. Often, when you are buying a new build home, they will have a financial advisor that you can speak to who will be able to advise you on what mortgage options are available to you and also part ownership if that is something that is provided by the developer, and you might be interested in.
Once you have had an offer accepted and your finances including your mortgage are all sorted and approved, it is time to instruct a conveyancer like this Gloucester conveyancing company www.montpellier.legal/conveyancing-solicitor/gloucester-conveyancing who ideally has experience of the conveyancing process when buying a new build home.
This is something that tends to be quite a quick process when compared with the purchase of a home that has previously been lived in. This is because it is more straightforward in many ways, and you are not waiting on the seller’s solicitor. It is also because the developer will give you four weeks to complete once you have put the deposit down, so you will need to make sure that you have a conveyancer ready straight away.