Property lawyer warns buyers over new-build paperwork

27th May

A Worcestershire property lawyer has warned the buyers of new build homes to do their “full research” on paperwork around restrictive covenants before they commit to paying a plot reservation fee.

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The alert has come from solicitor Claire Ross (pictured) who says buyers of freehold homes on large developments need to take professional advice and fully check the paperwork on covenants from before any financial outlay.

Ms Ross, from mfg Solicitors, said: “The excitement of buying and furnishing a new build home is something thousands of people and families across the UK experience every year, but it is not without risks which can often be buried in the small print of documentation.

“Over recent months there have been several reports of concerned buyers who have paid a reservation fee on a new home before raising enquires with their solicitor – only to find that it is littered with covenants which make life difficult – such as being unable to keep a van or a caravan on their drive.

“These are found in the transfer deed which contains positive and restrictive covenants that buyers must adhere to”.

“However, amongst the buzz and the excitement of buying a new-build property, many people are overlooking these covenants before coming to their solicitor which unfortunately can make their life a misery.

“My advice is simple and it is to take full professional advice before entering into a contract to buy a new home on an estate. Like I do with my clients, it irons out any issues, ensures correct certificates are in place, and clarifies any points hidden in the small print.”

BusinessWorks Wocestershire & Black Country spring 2022 | BusinessWorks Magazine

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