Handover notice

Once a building has its completion certificate, the developer writes to each buyer, by email and often by courier to the address in the SPA. The handover notice states that the unit is ready, lists the sums due and the documents needed, and sets a deadline, commonly 30 days, to complete.

The statement of account attached to it normally includes the final instalment, service charges from the handover date, the title deed fee, any utility or cooling connection charges and, occasionally, an adjustment if the measured area differs from the contract.

The notice starts clocks running. Under most SPAs, service charges accrue from the date in the notice whether or not you have collected the keys, and if you miss the deadline the developer may charge late-payment interest or treat the unit as handed over to you regardless. Persistent non-payment allows the developer to begin the default procedure through the land department.

What to do on receiving one:

• confirm the completion certificate has been issued, not merely expected
• book snagging at once, before the deadline
• tell your mortgage lender immediately if the balance is being financed
• check every line of the statement against the SPA
• arrange a power of attorney if you cannot attend

Keep your contact details with the developer up to date. A notice sent to an old email address is still validly served under most contracts.