Buying a New Build - What do I need to ask about?

GixerKate

eidand said:

ask if it will have a roof or do you need to pay extra for it .
Is the garden an actual garden or just a pile of mud where the construction leftovers are left for you to enjoy over a cup of tea, on a rainy, summer day.
Is there a floor or do you simply glide down from the top floor.
are the walls straight or will you get the "wave" type of walls.
Is the heating system installed by an actual monkey or someone who knows what they're doing.
Do the lights work at all.
Is the shower leaky or will they actually fix it?

I'm guessing you aren't a fan of new builds...

Swami_Trinel

The sales exec asked me to send details of my concerns to see if they could do anything about them to keep me.
Within a few hours of my email I was offered a full refund of my reservation fee. I think that pretty much says it all about the conditions and charges they'd inserted. I just hope everyone else on that development, and all new build developments, makes sure they fully read the details in the deeds and contract.
Also worth pointing out that my solicitor failed to highlight any of these as a concern and just forwarded the docs straight from the developers solicitor, so its very much a case read and understand everything. 

GixerKate

Swami_Trinel said:

The sales exec asked me to send details of my concerns to see if they could do anything about them to keep me.
Within a few hours of my email I was offered a full refund of my reservation fee. I think that pretty much says it all about the conditions and charges they'd inserted. I just hope everyone else on that development, and all new build developments, makes sure they fully read the details in the deeds and contract.
Also worth pointing out that my solicitor failed to highlight any of these as a concern and just forwarded the docs straight from the developers solicitor, so its very much a case read and understand everything. 

Seems a shame, especially as you had your heart set on the new build!
I haven't seen the paperwork yet so I'm hoping I don't have the same conditions.  I guess it depends on whether its a third party management company that manage the service charge or the owners (I know quite a few people where its a group of the house owners who manage the service charge which seems like a good solution).

Swami_Trinel

Sadly, in this instance, the entire set up seemed to be devised by the developers to continue making money from the site long after the last plot had been handed over. They set up the management company as a subsidiary and the entire running costs were to be split beyween the residents annually, "admin fees" payable for permission to carry out any work on the property and "admin fees" should you decode to sell the property etc.
According to the articles of association filed at companies House each freehold would have one vote in the management company (great news), unfortunately the developer retains 3 times as many votes as there will be houses 🙄

eidand

GixerKate said:

eidand said:

ask if it will have a roof or do you need to pay extra for it .
Is the garden an actual garden or just a pile of mud where the construction leftovers are left for you to enjoy over a cup of tea, on a rainy, summer day.
Is there a floor or do you simply glide down from the top floor.
are the walls straight or will you get the "wave" type of walls.
Is the heating system installed by an actual monkey or someone who knows what they're doing.
Do the lights work at all.
Is the shower leaky or will they actually fix it?

I'm guessing you aren't a fan of new builds...

I guess some of those were in jest ( oops ), but some are not.
It is very common for them to leave bits in the garden, or just about covered with some soil and then you wonder why nothing grows ....

eidand

Swami_Trinel said:

The sales exec asked me to send details of my concerns to see if they could do anything about them to keep me.
Within a few hours of my email I was offered a full refund of my reservation fee. I think that pretty much says it all about the conditions and charges they'd inserted. I just hope everyone else on that development, and all new build developments, makes sure they fully read the details in the deeds and contract.
Also worth pointing out that my solicitor failed to highlight any of these as a concern and just forwarded the docs straight from the developers solicitor, so its very much a case read and understand everything. 

this solicitor, was it recommended by the builder, by any chance?

Swami_Trinel

Actually, no although it was a fair assumption given the experience. I know I did the right thing by not using their recommended solicitor. 

eidand

Swami_Trinel said:

Actually, no although it was a fair assumption given the experience. I know I did the right thing by not using their recommended solicitor. 

Indeed but this does highlight that even then you cannot rely on them alone. You need to do your due diligence and make sure you understand what you are signing. A lot of people don't and then they end up in the news or complaining on the forums.
Well done to you!

newbridge

Swami_Trinel said:

The sales exec asked me to send details of my concerns to see if they could do anything about them to keep me.
Within a few hours of my email I was offered a full refund of my reservation fee. I think that pretty much says it all about the conditions and charges they'd inserted. I just hope everyone else on that development, and all new build developments, makes sure they fully read the details in the deeds and contract.
Also worth pointing out that my solicitor failed to highlight any of these as a concern and just forwarded the docs straight from the developers solicitor, so its very much a case read and understand everything. 

Can you share the concerns( or questions you asked, so i can possibly check with my builder too) you raised? I am also in process of buying a new build and have reserved but not exchanged yet. All this talks about service charge/TP1 is making me worried.

Swami_Trinel

eidand said:

Swami_Trinel said:

Actually, no although it was a fair assumption given the experience. I know I did the right thing by not using their recommended solicitor. 

Indeed but this does highlight that even then you cannot rely on them alone. You need to do your due diligence and make sure you understand what you are signing. A lot of people don't and then they end up in the news or complaining on the forums.
Well done to you!

I'm a FTB and had really fallen for the property, but that wasn't going to prevent me doing the due diligence. People not reading and understanding all these documents is the only explanation I can come up with for people proceeding to buy these properties... Unless, of course, they are happy to take the risk with uncapped service charges and additional fees.
Either scenario, I find utterly baffling especially with purchases in excess of £250k.