Sold my house but haven't received any money yet!

Lones

Hi,

My house has been sold STC for many months and finally I received a completion date of 5th November. The new owners moved in that day. I have yet to receive any money at all from my solicitor, I thought the completion date would be when I received the money?

Can anyone shed any light on how long it's meant to take before I receive the money from the sale? (this was my first property so i've not sold before).

CloudCuckooLand

How much is involved? If a small amount the solicitor may not want to spend £30 (or so) of your money on a CHAPS transfer, which would have been the quickest way. If left as a BACS transfer, it would take 3 working days.

Depending on the time on Friday when the money was definitely at your solicitors, it may have been too late to get a CHAPS done, to be processed today, anyway.

It will vary if it was a clearing bank at both ends and so on, as well. And the solicitor may have Ts & Cs that say they have to wait until the next working day before processing any proceeds.

Short answer would be to ring your solicitor and ask...

tyllwyd

I remortgaged a while back, and I remember being surprised that it took several days for the funds to travel from the solicitor into my bank. As the other poster said, if the funds didn't arrive at the solicitor until late in the day on the 5th, and then nothing happened over the weekend, it isn't too surprising that they haven't arrived into your bank yet.

bilbo51

CloudCuckooLand wrote: »

Short answer would be to ring your solicitor and ask...

Sounds like a plan!

Gwhiz

bilbo51 wrote: »

Sounds like a plan!

Don't be silly - why call the only person with the answer when you can postulate for hours on an Internet forum

sonastin

Gwhiz wrote: »

Don't be silly - why call the only person with the answer when you can postulate for hours on an Internet forum

If he's anything like my solicitor, you've got a much better chance of actually getting an answer from the internet forum

timmyt

Lones wrote: »

Hi,

My house has been sold STC for many months and finally I received a completion date of 5th November. The new owners moved in that day. I have yet to receive any money at all from my solicitor, I thought the completion date would be when I received the money?

Can anyone shed any light on how long it's meant to take before I receive the money from the sale? (this was my first property so i've not sold before).

call your lawyer!

paddedjohn

the minute my keys were handed over i was on the phon badgering my solicitor for my cash, the sooner the bank gets paid off the sooner the interest stops rising and the rest starts earning interest. i exchanged in the morning and by 4pm the money was in my bank

Jowo_2

I completed on a Friday, paid the £30 CHAPS fee and had the balance in my account on Monday morning. The solicitor offered to send a cheque or pay through BACs if I did not want the expense of the CHAPS fee.

PasturesNew

I got my cash into my bank within about an hour or so. The solicitor had asked, in advance, how I wanted to be paid and to which account. And there it was.... I couldn't believe it ... kept expecting it to disappear again.

G_M

timmyt wrote: »

call your lawyer!

But be careful. If you're using TimmyT as your lawyer he might charge you for the phone call (at £xxxxxx per minute?).