What is the process of buying a new home?,
21st October 2020
Generally, you’ll find a development that you’d like to call home and buy from plans or a show house, usually from 3 to 6 months before completion. Once you reserve a property with the sales agent, be it apartment or house, you’ll pay a nominal refundable deposit. Contracts are then issued from the developers’ solicitors to your solicitor.
Once you sign your contracts, you’ll put down a payment of the balance up to 10% of the price (minus the deposit). Your purchase is now non-refundable, which is something to be aware of as a purchaser. Upon completion of the property, you can inspect and send in a surveyor to take a look over your new home, ensuring there aren’t any finishing defects. After the balance is paid off, the keys are yours and you can move into your new home!