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Short gap between selling and buying, what should I do with the capital?
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Which would be a problem for your purchase anyway, no matter where the money was, but in practice the SRA intervenes and either gets the money out to your new firm of choice, or completes the transaction themselves,Schwarzwald said:Take the money back!
Never ever leave it with other people for no reason other than complacency.
also solicitors can go out of business, have a fraud case, etc
Not a problem where they're instructed in a specific purchase. Would be more of an issue if the client just had a vague plan to maybe buy something later.in addition, not sure your solicitor would even be allowed to hold funds to this extent without actual business need, not sure they held the right licenses for doing so1 -
although this lot are Daily Mail affiliates, they keep their rates tables up to date. As you can see 0.9% is about a third of what you could get, and as others note there are short term protections over the 85k for house sale proceeds.
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