Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • itsfabhere
    • By itsfabhere 2nd Oct 17, 12:56 PM
    • 6Posts
    • 0Thanks
    itsfabhere
    Solicitor nightmare
    • #1
    • 2nd Oct 17, 12:56 PM
    Solicitor nightmare 2nd Oct 17 at 12:56 PM
    On the 25th August I was emptying the final things from the house that I was selling, awaiting that telephone call from my conveyancer that completion had taken place and sales money transferred to my bank account. My buyers were awaiting the removal van coming so that they could move into my house.
    Instead of the call to confirm completion, we got a call to say there was no money for the sale to complete. Turns out my buyers buyer, Mr R, a cash buyer, had not sent any funds to his solicitors at all. None!
    My complaint is... why was it allowed to get this far down the line? Why did Mr R's solicitor not ask for funds at least the day before exchange/completion (exchange and completion due to take place on the same day due to the very quick process only taking 5 weeks)? Why was proof of funds not asked for by his solicitors earlier in the process?
    I had originally only accepted my buyers offer on the proviso that their buyer, Mr R, provided proof of cash funds. I was told that he did, to my buyers estate agent, and on this advice, I accepted their offer, knowing that there were no guarantees, but accepting that it was probably a good indication that the sale would go through.
    I have contacted the Ombudsman, the Solicitors Regulation Authority and my Conveyancer's for advice, but I have no legal rights. I am left with a bill for conveyancing for a house sale that did not complete. Any help please? NB I have no complaints with my solicitor, they told me all was ready for completion as far as they were concerned.
    Last edited by itsfabhere; 02-10-2017 at 2:07 PM.
Page 2
    • Jenniefour
    • By Jenniefour 2nd Oct 17, 2:13 PM
    • 1,242 Posts
    • 1,279 Thanks
    Jenniefour
    Thanks for all your comments. My question was wouldn't the solicitor usually request the funds at least a day before exchange/completion?
    Originally posted by itsfabhere
    They probably did, but what can they do about it if the clients doesn't come up with the funds on time, and everyone is determined to stick with the original completion date? Not a lot. It's a bit of a disaster waiting to happen.

    All the best with your new buyer/onward move.
    • Scotbot
    • By Scotbot 2nd Oct 17, 2:30 PM
    • 139 Posts
    • 97 Thanks
    Scotbot
    I imagine the solicitor did ask for funds the day prior and Mr R knew the completion date. Sometimes stuff ups happen but as Mr R failed to transfer the money even a couple of days after he is at fault. Proof of funds is not proof of trustworthiness. Did he even give an excuse?

    Glad to hear you have a new buyer.
    • steampowered
    • By steampowered 2nd Oct 17, 3:24 PM
    • 1,959 Posts
    • 1,831 Thanks
    steampowered
    My question was wouldn't the solicitor usually request the funds at least a day before exchange/completion?
    Originally posted by itsfabhere
    Correct me if I'm wrong, but presumably you have absolutely no idea whatsoever when the solicitor requested funds?

    You aren't party to discussions between your buyer's buyer solicitor and their client.

    For all you know the solicitor could have asked for funds 3 weeks ago and chased every day since.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

212Posts Today

1,251Users online

Martin's Twitter