In summary, the purchaser must be very sure that – even before signing a private agreement to purchase or option to purchase – that the new build construction has been registered at the Land Registry. If it hasn’t, there is every possibility that the operation could fail or be delayed interminably. By arranging a ‘basic land certificate’ or ‘nota simple’ of the property from the Land Registry we are able to verify the regulatory status of a new build construction.
With regard to the Notary and Registry costs relating to the filing and registration of the new construction, typically these are met by the vendor of the property. This point however, can be freely negotiated between the parties to the purchase therefore, it is highly recommended ensure that in the private purchase contract (ie from the get-go) those costs are explicitly assigned to the relevant party.
Finally, it is important to bear in mind that it is possible for the vendor to arrange for the issue of the property deeds relating to the new build construction simultaneously with the signing of the purchase deeds by the purchaser (of course in a separate document), if it is convenient to get everything arranged in advance, in writing, since until the Registry proceeds to inscribe the the new build deeds, it is not possible to register the new title to the property.