Curry Popeck

West End Office:
87 Wimpole Street
London W1G 9RL
Tel: +44 (0)20 7224 6633
Fax: +44 (0)20 7935 4042
DX No: 9082 West End

Harrow Office:
380 Kenton Road
Harrow, Middlesex
HA3 8DP
Tel: +44 (0)20 8907 2000
Fax: +44 (0)20 8927 0499
DX No: 47504 Kenton

Buying new and staying happy
< < Back

We all like brand new things, untouched by others, and a newly built home is no exception.
There are some points, however, to consider which don't apply to a 'secondhand' property.
If you are buying during the early stages of a development, for example you may only have plans or a model to look at, rather than the actual property, although you may be given a choice of finishes in the bathroom, kitchen, floorings and so on.
Most developers work on tight timescales and typically require a buyer to exchange contracts within, for example, 28 days of a contract papers package being issued to the buyer's solicitor.
It is therefore vital that you, your solicitor, mortgage lender and your own buyer, if you are selling a property, are all able to meet such a timetable.
Unless the property has already been finished and hi ready for occupation when contracts are exchanged the completion date will probably be one subsequently set by the builder giving, say, 14 days notice once it is finished.
If you are in a chain this means either that everyone else will have to accept the same formula for fixing the completion date, or you may have to agree a fixed date with your buyer, complete your sale first and move into temporary accommodation until your new home is ready.
All responsible developers will have an after-sales service to deal with snagging items and defects and virtually all new properties will, of course, have a 10 year guarantee from the National House-Building Council (or equivalent) covering structural and other defects.
Philip Popeck is a Partner at Curry Popeck, Solicitors.
Call him on 020 8907 2000 or email him at philipp@currypopeck.com.
< < Back