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Is this how it works
Muscle750
Posts: 1,075 Forumite
We been very lucky in getting probate within two weeks of applying and exchanging contracts on selling our mothers property within a month of it going on the market plus we got the asking price we had three valuations and there was a £50 k variation went with the higher one and it sold for £295k a executors acct is up and running and all her savings have been transferred into it by the bank
Does the money from the sale go to the solicitor then to acct or do we have to after the expenses are took out then pay the remaining amount around £25k to the solicitor to distribute accordingly
Does the money from the sale go to the solicitor then to acct or do we have to after the expenses are took out then pay the remaining amount around £25k to the solicitor to distribute accordingly
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Comments
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If the solicitor has been paid the house purchase proceeds then it would be normal for him to deduct his fees before passing it on.
But you need to ask him - particularly as to how quickly he will do it0 -
Who is dealing with the estate?
Who is dealing with the house sale?
If the estate and house sale are seperate the normal process is those dealing with the house sale to transfer the net after debts and expences to the the estate adminstrators or the benifitiaries if the property has been transfered
If the same solicitor is doing both and the house sale is from within the estate they will probably have the transaction on the estate accounts.0
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