The Waterbeach conveyancing firm that just started acting on my house acquisition in Waterbeach have suddenly shut down. They were on acting for me because I had to have a lawyer on the Skipton conveyancing panel and my preferred Waterbeach lawyer was not. I paid them 275 plus VAT on account. What should be my next steps?
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 Skipton 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 Waterbeach differ for newly converted properties?
Most buyers of new build or newly converted property in Waterbeach come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Waterbeach usually acquire 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 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 accustomed to new build conveyancing in Waterbeach or who has acted in the same development.
My business partner and I are intending to take over a lease of a shop on a shopping parade. Can you recommend solicitors offering fixed fees for commercial conveyancing in Waterbeach for under £1,200?
We are happy to recommend firms who have well rounded knowledge of commercial conveyancing in Waterbeach, including the sale and acquisition of businesses as well as simply property. If you are looking to acquire or dispose of a shop, pub, restaurant, office, retail premises or a whole business we will put you in touch with the right solicitor. As for the charges these will vary based on the structure and heads of terms of the proposed transaction. Please provide us with your contact information or phone so as to enable us to furnish you with a fixed commercial conveyancing calculation.
Is it best to instruct a Waterbeach conveyancing lawyer based in the location that I am buying? An old friend can carry out the legal formalities but her office is 400miles away.
The primary upside of using a local Waterbeach conveyancing practice is that you can pop in to execute documents, deliver your ID and pester them where appropriate. They will also have local insight which is a benefit. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and they were impressed that must trump using an unknown Waterbeach conveyancing lawyer solely due to them being Waterbeach based.
Having had my offer accepted I require leasehold conveyancing in Waterbeach. Before I get started I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Waterbeach - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a 1st floor flat in Waterbeach, conveyancing formalities finalised 5 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Waterbeach with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease finishes on 21st October 2080
You have 56 years remaining on your lease we estimate the premium for your lease extension to range between £29,500 and £34,000 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.