Buying a Drew Smith Home
At Drew Smith we understand that buying a new home can be a confusing time. To make your house purchase as stress free as possible, our team are here to help to make things run as smoothly as possible.
In this blog we have highlighted the key milestones during the process, including any meetings you need to be available for.
Once you’ve made your reservation, signed a Reservation Form, and paid your reservation fee, we can get everything up and running and we will send you a letter confirmation the details.
- Post Reservation Meeting
You will be invited to a Post-Reservation Meeting where we will talk you through all the details of your new home including:
- The purchase terms, including termination rights,
- Price and deposit to be paid.
- Heating, fittings, and finishes.
- Plans and layouts.
- Covenants and parking arrangements.
- The Management Company.
- This meeting is a chance for you to ask any questions you may have. Overall, this session should take no longer than two hours.
- Legal and Financial Assistance
To help you manage the legal side, you must intrust a conveyancing solicitor. If you are not sure where to start looking or need some help, our Sales Executives will be happy to give you a list of suggested firms.
This can often help the process run more smoothly if the solicitor you use s already familiar with our procedures.
Your solicitor will:
- Carry out Land Registry checks and other relevant searches on your new home.
- Check the Contract for your new home and make sure includes everything.
- Explain the Contract and transfer Document to you, highlighting anything important before you sign.
- Organise the transfer of funds to us.
- Check everything to do with your mortgage (if you have one) and arrange funds to be transferred on completion.
- Activate your NHBC Buildmark Warranty.
- Exchange of Contracts
Prior to this, your solicitor will confirm they are satisfied with the details of the purchase and they will have explained the Contract and Transfer Document to you, highlighting anything important. They will then advise you to exchange contracts with us. By this point you will have to have your mortgage/funding in place an put your solicitor in funds for your deposit which will be a percentage of the asking price.
You may also need to start thinking about connecting to BT to arrange for your telephone line to be connected.
- Meet the Builder
You will be given the opportunity to come to the site, meet the site manager and see how the build of your home is progressing. This meeting will give you the chance to speak with our site manager and to ask any questions you might have.
Overall, this session should take no longer than two hours.
- Build Progress Updates
You will be kept informed about how the building of your new home is going. From the point of reservation, we will try to give you a good indication of when your home might be completing, but please be aware that this is our best estimate and it might change as the build progresses. We will only be able to give you a definite date once Notice to Complete has been served in accordance with the Contract (this is a fixed notice period in which you must legally complete the purchase of your Drew Smith home.