Proceeds from house sale question

Si_Clist

If you sell a house in England but are not buying one yourself, how long does it usually take nowadays between completion and the money landing in your bank?  

JGB1955

The same day.

Si_Clist

JGB1955 said:

The same day.

I would have thought so, but unfortunately there's a solicitor involved here: some of the proceeds of the sale have been left to my wife in her late mother's will.  I guess how long he'll sit on the money is the big variable   

Keep_pedalling

If the solicitor is the executor then it is likely to be several months before she sees any of the proceeds.

Si_Clist

Keep_pedalling said:

If the solicitor is the executor then it is likely to be several months before she sees any of the proceeds.

Executors are my wife and her brother, he doing all the formalities. Not sure what the solicitor's involvement is apart from putting in a big bill, but wife happy to leave everything to brother.

PRAISETHESUN

I'd expect the money from the sale should arrive in the executors account on the day of completion. Completely separate is the issue over how long it will take for the executor to distribute the proceeds of the sale from the estate to the beneficiaries.

km1500

When I sold a house completion was on a Friday and the money did not appear into my account until the following Monday

When I queried it they said they had a week to send the money under the solicitor rules not sure that is true!