Buying off-plan……. What is it? Why is it a good idea?

Buying a property off plan is when you decide to purchase a property before the builder has finished building it, sometimes before the construction has actually even began.

This is a great idea as you will get a say in the finish of the property and giving you the option to upgrade your kitchen, your bathroom and even down to decorative things such as colour of carpets.

The steps……….

  • Speak to a mortgage adviser to check how much you can borrow and an idea of the repayments
  • Find a suitable development in the area that you want to live
  • Once you’ve found the property that you want, you’ll need to meet with the developer and pay a reservation fee, usually around £1000.
  • Appoint a solicitor, who will check all of the details and draw up the contracts.
  • Once all of the paperwork has been checked you’ll pay your deposit and the solicitor will exchange contracts (at this time the contract becomes legally binding)
  • Then the wait……… you can have a several month wait until your home is finished but it is important that you check along the way that everything is being done to the specifications that you made.
  • Once finished ensure that you check the house for snags, making sure that it is finished to a good standard
  • You will then be given two dates, a short stop date the day that they expect the property to be ready and the long stop date, the date they have to complete by.

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Happy New Home

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