When agreeing to buy a property which has not yet been built, special considerations arise.
We can advise on the risks inherent in market movements between exchange and completion; the risk of developer insolvency part-way through construction and protection of contractual deposits in such circumstances; the standard of construction which the developer agrees to adopt; provision for variations and extra works in the course of the project; and the difficulties of completing the purchase whilst other works within the development are still continuing.
Wherever possible we secure warranties relating to the remedying of defects in the initial construction. Where these are not available we can advise on the obtaining of certificates of inspection from professional consultants engaged in the development.
We provide a full written report on the purchase contract itself, the terms of draft leases where applicable, and any restrictions on the developer’s ability to build on the land in question. We also review planning documentation in detail.
Burkill Govier and Astrantia are trading names of BG Legal Services Limited, which is registered in England No. 5823947, having its registered office at 2 Maritime House, The Hart, Farnham, Surrey GU9 7HW. A list of directors is open to inspection at the registered office. BG Legal Services Limited is regulated by the Solicitors Regulation Authority. Tel: 01252 727478; Fax: 01252 717188. DX 32804 Farnham. Email to email@example.com