Buying a property will be one of the major investments in your life. You will always want to ensure that the property is good value for money; that it is in the right location; that it’s structurally sound; that the finances are in order; that the lawyers are happy with it.
When you buy an off-plan newbuild property, you will be paying your deposit on the basis of plans and images; you will be placing your faith in the developer to build the property in line with what you have seen. You will need to satisfy yourself as best you can that the developer has a solid track record and is financially viable. The agent will be able to help, but you should do your own research to satisfy yourself as to their credentials.
The legal framework for newbuild sites is usually complex, with fifty or more documents for your lawyers to carefully examine. So you also need to be able to rely on your lawyers to undertake all necessary enquiries and satisfy themselves that you are buying a good title.
A good lawyer will keep your contract report as brief as they can, without burdening you with the mountain of documentation that they have checked in the background. Their job will be to summarise the complexities of the title into plain, simple English in as short a format as possible so that you can understand at a glance the points you need to know about. You will be under time pressure to exchange contracts and will want your lawyer to be efficient and responsive and be mindful of the timescale. If you have concerns and need to raise questions, you will expect a prompt and full response from a seasoned professional. You will of course expect any deal you have done with the developer to be enshrined in the legal paperwork.
We at TQ have a dedicated Newbuild team to cater for your needs and a national reputation.