Buying Guide

Once you have chosen your new build home with our sales executive, you will need to reserve the property:

- First, complete a reservation form with the sales executive and secure your new home with a reservation fee.

- You will be entitled to a 14-day cooling off period from the date of reservation.

- As soon as we receive the completed paperwork and fee, the property will be taken off the market for 42 days (called ‘the reservation period’). The reservation fee then becomes part of the purchase price.

- At the point of reservation, you will be given an indication of the anticipated legal completion date. This is not a definite date and the actual completion date cannot be guaranteed due to external forces beyond our control (such as the weather), however, our sales executive will keep you informed at every stage of the reservation.

- Prior to reserving your home, your IFA or mortgage broker had to provide evidence to the sales team that you qualify for a mortgage in principle. After reservation, your IFA will apply for a full mortgage (if required).

- At the point of reservation, you will need to provide details of your solicitor. If unsure, we can provide you with details of local solicitors we can recommend.

- You will be given a copy of your reservation form.

- At Devonshire Homes we adhere to the New Homes Quality Code. You will be given a booklet that outlines this code upon reservation.

- We will immediately send a copy of the reservation form to both our and your solicitor.

During the 42-day reservation period, correspondence will have been exchanged by both sets of solicitors and will culminate in two identical documents, one signed by Devonshire Homes and one by you.

- Your solicitor will contact you prior to the exchange of contracts and arrange a meeting in order to review the contract and sign the necessary documents.

- Once contracts have exchanged the agreement is legally binding.

- Your solicitor will ask you to pay a deposit (normally 10% of the purchase price). This will be paid to Devonshire Homes at the point of exchange of contracts.

- Between the Exchange of Contracts and Legal Completion, our Sales Executive will frequently update you with the progress of your home.

Legal completion is when you take ownership of your new home. Payment will have been made in full and passed to our solicitor; your solicitor will have received the Title Deeds to your property. At this point, you are responsible for your home and you should ensure your property is fully insured.

- Legal completion takes place after the property is build complete and the necessary paperwork has been issued by the NHBC or LABC, stating your home conforms to NHBC/LABC standards.

- Following receipt of the completion of all works a formal notice will be served on your solicitor and completion must take place within the notice period.

- Devonshire Homes’ notice period is 10 days.

- Prior to legal completion, you will be invited to a demonstration of your new home. It is important you attend, as you will be shown how all of your appliances operate and key features will be pointed out.

The final stage of buying a new build home is the handover. This normally occurs on the day of completion, however, if you wish to make alternative arrangements for another day this can be arranged.

- Following legal completion, our Sales Executives will contact you to confirm funds have been received and will make arrangements to hand over the keys.

- On the day of completion, our Sales Executive will read the meters and complete a key handover form - you will receive a copy of this document.

- You will be given a handover pack containing all guarantees, warranties and NHBC/LABC booklets.