The Rhymney conveyancing firm that I appointed last week on my purchase in Rhymney have suddenly shut down. I only went with them because I needed a firm on the Kent Reliance conveyancing panel and my previous Rhymney lawyer was not. I paid them funds on account. What do I do now?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Kent Reliance conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.
How does conveyancing in Rhymney differ for new build properties?
Most buyers of new build premises in Rhymney contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is constructed. This is because builders in Rhymney tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Rhymney or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Rhymney is where the house is located. Is there any advice you can impart?
Flying freeholds in Rhymney are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Rhymney you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rhymney may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
How do I identify a Rhymney law firm on the Alliance & Leicester conveyancing panel? I have a car and am happy to travel upto 25kilometers to meet the solicitor.
Feel free to make use of the search on this website. Please pick a lender and your location and you will see a number of Rhymney conveyancing lawyers based on proximity. We have listed some Rhymney conveyancing firms at the bottom of this page and you can contact them to verify whether they are on the Alliance & Leicester approved list
I have just appointed agents to market my garden apartment in Rhymney. Conveyancing is yet to be initiated, but I have recently received a yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is clear the invoice as normal given that all rents and service charges will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Rhymney Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
How long is the Lease? Is anyone aware of any major works on the horizon that could increase the maintenance fees? Who is in charge of the block?