The Ripley conveyancing solicitors that I appointed last week on my purchase in Ripley have suddenly shut down. They were on acting for me because I had to have a lawyer on the Co-operative conveyancing panel and my preferred Ripley lawyer was not. I sent them a cheque for £250 in advance. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Co-operative 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 lawyers may be able to help.
How does conveyancing in Ripley differ for newly converted properties?
Most buyers of new build premises in Ripley contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is completed. This is because house builders in Ripley tend to purchase the land, 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 property lawyers 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 Ripley or who has acted in the same development.
I'm converting the mortgage on my current property to a buy to let mortgage with Godiva Mortgages Ltd and intend to use the remaining equity towards a second property. The neighborhood we are interested in is Ripley. Will your conveyancers be able to act for the two lenders and tie in the two deals?
Do use our comparison tool on this page to check that the conveyancers are on the appropriate lender panels. On the basis that they are your solicitor will be able to tie up the two transactions but you should have a chat with you solicitor and make apparent your desired outcome and needs.
Estate agents have just been given the go-ahead to market my ground floor apartment in Ripley. Conveyancing has not commenced, but I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the maintenance contribution as normal given that all ground rent and maintenance invoices should be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until 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.
Ripley Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing
-
Who manages the building? Does the lease have onerous restrictions? What is the maintenance charge and ground rent on the flat?
I am purchasing a garden maisonette in Ripley. Conveyancing lawyer is waiting for, from the owner, building insurance documents. I was told today I was advised that the vendor needs to forward the insurance documents for the flat above in addition. Why would my lawyer want to see the insurance for the other flat? Is it strictly required? We have been in hold for the last month…
It is not unheard of in leasehold conveyancing in Ripley to discover Conveyancing in Ripley in a minority of cases reveals that the lease provides for the leasehold owners to insure their individual flats as opposed to the landlord insuring the whole block - which is clearly preferable. You should double check with your conveyancer but it would seem that your solicitor is looking to verify that the complete building is insured. Insuring a ground floor flat is no help when it comes to rebuilding after a fire if the other flat cannot be rebuilt as a result of lack of insurance cover.