Residential Property Rentals

New Build

Pink PS already has strong relationships with developers across the city who are aware of its strong reputation for doing business efficiently and always updating the client throughout the new build process.

Many people are not aware of the processes involved and the length of time it takes for the property they purchase off plan to be build complete. Pink PS can provide you with some guidance on this due to their knowledge in this specialist area:-

On the day you pay your reservation fee and reserve your plot, you are provided with 28 days to exchange contract. This timescale may run from the day of the reservation date or the day your solicitors receive the contractual paperwork, always check this with the site agent.
The next step is that you will have to provide all the necessary money laundering regulation documents to your solicitors and complete all necessary paperwork. We can help provide this information as we will have this documentation due to acting as agents for the developers.
The contractual documentation will them be sent to your solicitor by the developers solicitors which is a large package and may take some time for them to look over. Your solicitors will then raise any questions they may have to the developers solicitors. Once they have received satisfactory responses a report will be prepared for you, you will also have to sign up on the contract, and any other documents which require your signature.
It is imperative while this process is moving forward that you obtain your mortgage valuation and offer. If you choose to obtain a mortgage offer closer to the completion date, as this may sometime away and your mortgage offer will have expired, you will have to speak with your solicitors about to advise you on any risks.
Once all this is in place you are ready to exchange, at this point you will have to supply a 10% deposit to your solicitors (or such amount that has been agreed).
It is then a matter for the builders to complete the property. One this is done the relevant body who provides the warranty/guarantee for the property, NHBC, Zurich or Premier Guarantee etc, will 'sign the property off' and your solicitors will be provided with the Notice to Complete giving usually 10 days, although this can vary, to complete on the property.
At this point your solicitor will request your mortgage advance from the lender and any additional funds required for you in order to complete and set a completion date.
On this day the money will be sent to the developers solicitors and once this has been received, bearing in mind it has to go through the banking system, the only guarantee given by the banks is that it will be there before close of business that day, they will advise us and they keys will be released and you can come in, collect the keys and move in!

Pink PS will soon have off-plan / New Development opportunities available.