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I don't think I can make exchange of contracts deadline!!
Comments
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If his and your banks are both within the Faster Payments scheme, and the transaction amount is below the bank's faster payments limit, you should get the funds within about 2 hours.
And Thrugelmir's point is very valid - the solicitor will demand to see evidence of the source of funds as anti-money-laundering measures, as well as ensuring there are no complications over title and any mortgage i.e. your brother does not have any claim upon the property.A kind word lasts a minute, a skelped erse is sair for a day.0 -
Owain_Moneysaver wrote: »If his and your banks are both within the Faster Payments scheme, and the transaction amount is below the bank's faster payments limit, you should get the funds within about 2 hours.
And Thrugelmir's point is very valid - the solicitor will demand to see evidence of the source of funds as anti-money-laundering measures, as well as ensuring there are no complications over title and any mortgage i.e. your brother does not have any claim upon the property.
Both the solicitor and the lender are aware of where the deposit is coming from. They've even got a letter from the giftor.
Practically everything's done, all we need is the deposit to clear into our account so we can Chap it over. We've done all this in 5 weeks and the estate agent has been very quiet. We're paying 2k more than valuation price so I cant see anyone offering too much more for it.
I hate the uncertainty of it.0 -
"Will the sellers care to extend the deadline?"
Not sure how anyone on here would know.0 -
Its unlikely they'll want to start again with a new buyer. A bigger offer now would have to be pretty water tight, which would presumably mean someone coming in and offering cash up front.
As far as I know if someone else turns up at the 11th hour offering a few grand more but with mortgages and surveys still to do they dont usually get a look in. Who knows though, nothing is guaranteed until you've exchanged.0 -
First of all, thank you very much for your replies.
The money was cleared early this morning so everything should go smoothly. Panic over, for now.0
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