Purchasing a new build property can seem daunting when you start going through the conveyancing process. You want assurances that everything will be handled properly for this major investment. This is where using a tailored new build conveyancing comparison service can give you confidence and peace of mind.
What Does Conveyancing Involve? Conveyancing is the legal transfer of a property title from the seller to the buyer. It involves key steps like conducting searches, preparing the contract of sale, facilitating the exchange of contracts, dealing with any conditions in the contract, and finalizing the completion. A conveyancing solicitor or licensed conveyancer typically handles this process.
How New Build Conveyancing Differs When you make use of a new build conveyancing comparison service, some key differences come to light between new build and existing property transactions:
- New builds are usually leasehold, so ground rent and service charges apply
- Warranties like NHBC provide certain protections regarding defects
- Exchange of contracts happens earlier in the process
- Completion occurs later, allowing time for construction
- There is a “snagging” process close to completion
- Leasehold conditions may be more restrictive
These differences mean the conveyancing timeline varies significantly.
Benefits of a Tailored Service The conveyancing process for new builds is complex. By utilizing a new build conveyancing comparison service you get:
- Conveyancers experienced with new builds, who can advise accordingly
- The ability to compare conveyancers specialized in this area
- Conveyancers who are familiar with the developer and their standard lease
- Ongoing communication about the construction progress
- Support in understanding the warranties like NHBC
- Help navigating the snagging process before completion
- Guidance on meeting specific leasehold conditions
This tailored service ensures your new build conveyancing goes smoothly.
Researching the Developer’s Reputation A key benefit of using a comparison service is getting insights from your conveyancer into the developer’s reputation and track record. Do they have a history of delayed projects or disputes over quality? This background information is invaluable.
Comparing New Build vs Resale Timelines The new build conveyancing comparison service will clarify the different timelines between new build transactions and resale properties. For new builds, you’ll reserve a plot early on, exchange contracts months before completion, and complete only once construction is finished. The service spells out this elongated schedule.
Questions to Ask Conveyancers Armed with expertise from the new build conveyancing comparison service, you can ask targeted questions when interviewing potential conveyancers, including:
- How many new build cases have you handled with this developer?
- What parts of the lease should I be aware of?
- What is the typical purchase timeline for this development?
- How will you assess the property during snagging?
- What issues do buyers run into most often post-completion?
This gives you insights on selecting the right conveyancer.
Conveyancing Comparison Service Benefits Overall, some of the key advantages of using a tailored new build conveyancing comparison service are:
- Get quotes from conveyancers experienced with new builds
- Assess conveyancers’ knowledge of the developer
- Better understand the purchase timeline
- Ensure the right leasehold conditions are met
- Get help preparing for snagging and completion
- Learn about managing warranties post-completion
- Avoid pitfalls others have experienced
By investing time upfront using the comparison service, you can ensure your conveyancing goes smoothly, giving you peace of mind during a significant purchase.
Navigating the Completion Steps As you near completion, your conveyancer can guide you through final steps like:
- Carrying out final searches shortly before completion
- Reviewing leasehold conditions for handover
- Conducting the snagging inspection
- Making final payments on completion
- Transferring utilities and council tax into your name
- Understanding the warranty protection after moving in
A good conveyancer provides ongoing support long after completion.
Make the Right Choice When investing in a new build property, using a tailored new build conveyancing comparison service gives you the confidence of working with the right conveyancer. Take advantage of this to make the conveyancing process as smooth as possible on your journey to becoming a new homeowner.