B
Buyer
New Member
Hi all,
I am looking for some advice whilst potentially purchasing my first property. I am interested in a property that is currently occupied by someone buying a new build. The new build will not be ready Until early next year. The timing isn’t an issue at all for me... what I’m not sure of is whether there are risks to me offering to purchase this property - I appreciate there are risks involved with any purchase but would this be too high risk for a FTB. The developers (well established property company) that the current tenants are buying their new build from have in theory taken over the selling of the property I’m interested in as they have technically purchased it from the current tenants as part of the new build contract. The estate agent confirmed that exchanging now with a delayed completion is common for this ‘new build’ kind of scenario. I’m just anxious with this being my first experience of a potential property purchase.
Any advice or thoughts would be greatly appreciated.
Thank you
I am looking for some advice whilst potentially purchasing my first property. I am interested in a property that is currently occupied by someone buying a new build. The new build will not be ready Until early next year. The timing isn’t an issue at all for me... what I’m not sure of is whether there are risks to me offering to purchase this property - I appreciate there are risks involved with any purchase but would this be too high risk for a FTB. The developers (well established property company) that the current tenants are buying their new build from have in theory taken over the selling of the property I’m interested in as they have technically purchased it from the current tenants as part of the new build contract. The estate agent confirmed that exchanging now with a delayed completion is common for this ‘new build’ kind of scenario. I’m just anxious with this being my first experience of a potential property purchase.
Any advice or thoughts would be greatly appreciated.
Thank you