Plot sales

Plot sales

‘Plot sale’ is the term commonly used to describe the sale of newly-built residential properties by a housing developer. The most common scenario is where the developer lays out a residential estate, builds houses on it in accordance with plans prepared by the developer, and then sells the land and completed buildings on it to a series of buyers. However, ‘plot sale’ may also be used to describe the position where only a single property has been constructed.

Sale documentation tends to be in standard form where there are multiple properties on an estate. See Precedents:

•
Plot sale agreement—freehold
•
Agreement for sale of long residential lease (off plan)
•
Plot sales transfer

New Homes Quality Code

The New Homes Quality Code (the Code) replaces the Consumer Code for Homebuilders. The Code is published by the New Homes Quality Board, an independent body established in 2021 to "champion quality new homes and better consumer outcomes for buyers".

For further commentary, see Practice Note: New Homes Quality Code and the Consumer Code for Home Builders.

Land banking

Land banking is the practice of purchasing undeveloped

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