New House Sale

publication date: Oct 3, 2011
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

New House Sale

Homes - New Build

If a developer is trying to sell you a house that is new, there are a five key things you need to know about buying a new house. Kate Faulkner, MD of Designs on Property one of the UK's top property experts explains the five things you need to know about a new house sale.

  1. Check out the developer's credentials
    All developers have to have their new houses checked by an insurance company prior to putting them up for sale to receive a 10 year guarantee on the property. These guarantees could come from the NHBC, Zurich or Premier. Good developers have also signed up to a new customer care service introduced in 2010.
  2. Is the New House for Sale a Good Price?
    Most new houses for sale are sold with up to a 20% premium versus other homes. Since the credit crunch however, some new house sales have been going through developers' books with no premium at all, potentially making them quite a bargain in today's market. Read our other articles to find out more about how to price a property and work out what to offer.
  3. New house Sale Process
    Understanding the process of a new house sale is important. It is slightly different to buying a second hand home partly because the contract is written differently - normally in favour of the developer, not you! It's vital therefore to make sure you meet with the developer to go through every stage of the new house sale process, what you can expect from them and vice versa.
  4. New house Sale Legals
    Many developers will offer you free legals or discounted legals with a company they know. Although this can be useful, it is vital to get their contract checked out by an independent legal company that has NO connection with the developer. If you don't, the legal contract may be stacked in the developer's favour. For help with a new house sale legal company who is independent, contact us.
  5. New house Sale Problems
    There are lots of problems with new house sales that can occur. For example, New Homes Inspector Stephen Nancarrow developed research which showed on average a new build has over 80 defects which no-one will spot unless you have a new homes inspection report. If you have any problems purchasing a new house or need a new homes inspector's help, then contact us

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