What is buying off plan?
Buying off plan is simply purchasing a property that hasn’t been built yet. The prospective buyer will be able to see proposed plans and design visuals of the property and based on this information they will make an informed decision on whether to buy or not.
How much deposit will I have to pay?
Once we have agreed a price, you will need to pay your reservation deposit of 0.5% which takes the house off the market and goes towards the purchase of your home. You will also need to fill out a reservation form and appoint a solicitor. If you do not have a solicitor, we can suggest a solicitor who is familiar with the specific process for that development, which can make exchanging contracts simpler.
Once you have put down your initial deposit to reserve the property and instructed a solicitor, the exchange process usually takes around 3-4 weeks. You will then be required to put down 10 per cent of the purchase price (minus your deposit already paid).
Can I choose any of the fixtures and fittings?
Our Sales Negotiator will advise you about a range of optional extras which you may wish to incorporate. These choices are subject to the construction stage of the property. Optional extras should be paid for when they are ordered.
Can I visit the site during the development?
Your safety is very important to us. We appreciate that you may want to look at your home while we are building it. However, building sites are dangerous and are defined in health and safety law as ‘workplaces’. The builder is legally responsible for them and must not, by law, allow access to the general public. Access to the construction site therefore is not allowed. However, at certain construction stages prior arrangements can be made with the Sales Negotiator to visit the property and when this is acceptable we will provide any necessary protective clothing, footwear or other equipment, which you must use while on our site. We may also send updates during the building period to let you know how construction is progressing.
When will I be given a completion date?
Once you have reserved your property we will advise you of our anticipated completion date. We will also advise you of building progress on exchange of contract. It is also recommended that you keep in touch with our Sales Negotiator regarding the progress of your home. When your home is ready, you will be sent a completion notice telling you how long you have to complete on your purchase – usually about two weeks. You just need to let your mortgage company know and your solicitor will do the rest. You will be able to collect the keys on the day of completion.
What happens on completion?
It is your Solicitor’s responsibility to handle the financial transactions – collecting and processing monies through the banking system. This may take some time but as soon as your monies have been received at our Solicitor’s, we are advised and the keys are released to you immediately and you will be allowed access.
Please note that, in order to safeguard our position and your own, this legal formality must take place. To avoid delay and disappointment, please ensure that your Solicitor and any Mortgage Lender are fully aware of your timetable and arrangements.
When you call to collect your keys our Sales Negotiator will arrange to meet you at your new Gleave home – the keys are handed over to you and we will carry out a final check of your property and any outstanding items recorded on the handover forms, you will have further 14 days to complete and forward these to Gleave Homes.
What if I have a problem after I have moved in?
Although we hope there will be no problems after you have moved into your new home, our commitment to will continue and we will repair any defects under the terms of the Insurance Warranty provider, although, of course, you will be responsible for wear and tear, decorating and routine maintenance. You will be given the appropriate contact details on handover.