Purchasing a property can involve a lot of complex situations. It certainly pays to be cautious at every step. Aside from the physical structure of the property and different housing searches, there are many factors associated with a building.
Conveyancing Solicitors London will help deal with any problems, they will check in with the necessary searches, such as environmental searches, searches for drainage, chancel searches etc. They will also look into any easements on the property or overlapping between boundaries, for example. For help finding Conveyancing Solicitors London, contact a site like Sam Conveyancing.
Apart from all these, there are some other important points, which you should take care of especially when buying a new home, such as:
Section 106 agreement
This is an agreement between local authorities and builders. This is also called a planning obligation. As a planning obligation is under section 106 of the Obligations of Planning and Community Infrastructure Planning Document, it is commonly known as the 106 agreement.
Under this agreement, the builder is to compensate the planning authority in the form of cash or physical infrastructure so as to obtain permission from the authorities to move forward with their proposals.
Contributions in accordance with the 106 agreement may include the transfer of ownership of open space to the council, financial assistance for the maintenance of public spaces such as parks and play grounds, contributing to children’s education, planting trees or money to maintain them or contributing to improved transport facilities etc.
If you are planning to buy a new house, then you should inquire in detail about the builder. Make sure that it is a trusted and reputable builder. They most definitely should be registered with the NHBC (National House Building Council).
Similarly, it is important to check whether your building is protected by home insurance purchased through NHBC or other well-known insurance companies. Generally, most homes will have a Buildmark warranty of 10 years, provided by NHBC itself. Make sure you check all the important documents. Builders can also get a warranty from the local authority Building Control (LABC). Apart from the guarantee of a credible organization, it is crucial to obtain additional home insurance. This is because the warranty will only cover certain specific types of losses or problems that may occur in buildings during construction time. On the other hand, additional insurance will provide full coverage for all of the problems anticipated.
Mar 04, 2015 0