Estate Agent Told Me House Has Been Sold But My Solicitor Says No. What's Going On?

anmarj

Sold stc - sold subject to contract. So on condition that The buyers can meet everything they need to meet, any paperwork that relates to the house is in check, probate has been granted etc

System

anmarj wrote: »

Sold stc - sold subject to contract. So on condition that The buyers can meet everything they need to meet, any paperwork that relates to the house is in check, probate has been granted etc

Thanks for explaining that to me.
But if that's the case why has my solicitor told me the house has not been sold and that it has only found a buyer?

Jox

At the end of the selling a house process there is an exchange of contracts and then completion, these two processes can happen on the same day or different days.

Once completion has taken place then the house is sold.

Mojisola

annbarbs wrote: »

Thanks for explaining that to me.
But if that's the case why has my solicitor told me the house has not been sold and that it has only found a buyer?

Because buyers can pull out and then the house will have to go on the market again so your sisters have found a 'buyer' but the house is not guaranteed 'sold' yet.

There can be months between someone saying "I would like to buy that house" and the actual contracts being signed and the money handed over.

fairy_lights

annbarbs wrote: »

Thanks for explaining that to me.
But if that's the case why has my solicitor told me the house has not been sold and that it has only found a buyer?

Because the house hasn't been sold yet. It just means a potential buyer has been found and the house will be sold to them if everything goes smoothly and they don't pull out for any reason.
I suppose a better way of looking at it is to think that selling a house isn't a simple transaction like buying something in a shop, you don't just hand money over and instantly get the goods. There's a lot more paperwork and planning to buying a house and it the transaction can take months - so at the moment it's in the process of being sold, but not sold yet.

thorsoak

Your solicitor will charge you for each and every 6-minute unit of time spent on the phone regarding your case - whether with you or with the purchaser's solicitor - for perusing your file and keeping up to date on it and for writing to your sisters or their solicitor as well as for reading and reacting to letters from the other side. The charges for the sale of your mum's house, paying any inheritance tax (if any) and winding up her estate will be deducted before you receive your share.

I know it's hard, but you do have to exercise patience - just plan xxx

Caroline_a

And I did ask him if I have rung up a big legal bill and he said No.
So I don't understand why your Solicitors bill was 14k if you only went there to make a will!

You misread my post. The solicitor charged that to administrate my dad's will and to obtain probate. I did put in a complaint as it was very straightforward as I was already living in the house so no sale needed (I have no sisters or brothers), so there was no division of assets to be worked out. The complaint was upheld but they only knocked a few hundred off the final bill.

PinkGladioli

Sold STC (subject to contract) means that an offer has been accepted but there are formalities to go through before it is actually sold to the new owner.

Just be patient. Your solicitor isn't just work for you.

warby68

OP, I know you are worried, especially about trusting anyone.

However the vast vast majority of solicitors CAN be trusted to do their job.

Everything you are talking about is entirely NORMAL so far.

The estate agent describes a house as sold when a buyer is found as their job is essentially done at the point. The solicitor then handles the actual process of getting the sale through and for it to take 2-3 months is perfectly normal as there is a lot of paperwork and formalities that goes backwards and forwards. The money only changes hands at the very end on a day which will be agreed by both the seller's and buyer's solicitors, called completion day. The main update you will be interested in is how quickly the money will get to you after that has happened.

The sale could still fall through right up until the very end but there is nothing that can be done about that risk unfortunately. It is the same for everyone buying or selling a house.

Your solicitor has very little input to this process apart from obtaining progress updates and he probably wouldn't see fit to bother for a few weeks at least.

Try and be patient and relax and believe what your solicitor tells you.

System

Well my Solicitor said my legal bill won't be anything like what yours was.
The estimate he gave me was between £2000 and £3000 but because I might have spoken to him on the phone more than I should have I think it could be maybe £5000 or something like that.

But then if I am to get 100k what is £5000 then?
If you know what I mean.

I did ask my solicitor if that buyer does buy that house would I get my money by Christmas.
He said 3 months if that happens.

Yet some members on here seem to think it could take longer.
I hope not because I don't want to have to wait another year before I finally get my money.

I have been waiting since November 2015 when I first found out about mums will and probate was granted to my sisters in December 2015.

I have been with my Solicitor since November 2015 and I think I have waited long enough for this to be sorted out.
I just want it over and done with so I can get my money and start my new life.
I don't think I can cope with another year of waiting and nothing really happening.
That means this time next year in August 2017 I will still be in the same position as I am in now and I don't want that.