Legal Requirement of sending money over completion of a house sale?

Kazam26

My house completed today and I was called around 12pm to say money received and to arrange to hand over keys. The time came to hand over keys and I still had no funds in my account. I am not purchasing a new property.

I called and was told if I didn't hand over keys I would be in breach of missives. I handed over keys and now its the end of the business day and I still have had no money. 
I paid £30 extra to do via chaps payment which is guaranteed, and no money has been given. I requested a call back and no call back either. 
Have I any legal standing to make a complaint? I'm getting worried.

TIA

SDLT_Geek

Was your sale of a Scottish property?  Were you using solicitors?

Kazam26

Yes a Scottish Property and I went through I a solicitors - well known but I don't think I'm aloud to say who

davidmcn

You don't necessarily get the net proceeds on the same day, depends whether they've got time to finalise the figures before whatever their cut-off time is (and what other work they've got to do given Friday is a popular day for settlements to happen). I expect you'll get the money on Monday.

SDLT_Geek

You should not need to worry if your solicitors received the money from the buyer.

greatcrested

Payment to your solicitor constitutes Completion of the sale. If you had not handed over the keys the buyer would have (quite rightly) sued the pants off you!

Your solicitor will get the funds to you shortly. Probaly Monday.

Cut off for most CHAPS payments is around 3 PM. If your solicitor, and/or his admin staff were rushing around getting 36 other sales/purchases completed (on a Friday - never Complete on a Friday!) then they may easily have missed that deadline. Especially if they had to pay off a lender, estate agent, or otherwise adjust the amount due.

Thrugelmir

Cut off for CHAPS is nearer lunchtime. Used to be 1pm at the latest. 

There's still the final admin to be performed by the solicitors. The balance will mostly likely be remitted on Monday. . 

AdrianC

Solicitors up and down the chain basically promise each other the actual money. It'll all follow through in very short order, and - if it doesn't - it's their problem, not yours.

Did they ever say that the cash would be in your account the same day? I bet they didn't.

sheramber

I am in Scotland.
I am due to conclude missives on my house sale and have  been told it must be done on a Friday.
The entry date for  the house I am buying is also a Friday

davidmcn

sheramber said:

I am due to conclude missives on my house sale and have been told it must be done on a Friday.

This is nonsense (as a general rule, I mean - obviously if the buyer only wants to do it on a Friday then you might have no real choice)