LandlordZONE

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Oct, 2014

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  1. #1
    Join Date
    Nov 2012
    Posts
    145

    Default Sale completed- no money

    My solicitors have advised me that my house sale completed this morning. I'm due about £200,000 from the sale. My solicitor says "sending you the money will take 48 working hours because our accounts department has to check everything".

    This doesn't make sense to me. If there was a chain my money would be sent this morning.

    Is what they are doing reasonable?

  2. #2
    Join Date
    Dec 2012
    Posts
    196

    Default

    I have no idea, but for £200,000, a couple of days to check seems pretty damn reasonable to me. But what are they even checking?

  3. #3
    Join Date
    Nov 2012
    Posts
    145

    Default

    I've no idea what they're checking. They've paid off my mortgage. I guess they just need to deduct their fees, that's all.

    They probably have the money in an interest bearing account to their profit, while I'm being denied £20 a day interest.

  4. #4
    Join Date
    Jan 2011
    Posts
    714

    Default

    Totally unreasonable. They should have produced a statement of sale before completion and transferred the funds to you via CHAPS.

  5. #5
    Join Date
    Jun 2010
    Location
    Foundation trench for New Shed@ Ham on Rye
    Posts
    14,891

    Default

    Not having to pass it on to a related purchase, they are sitting on it.

    Ask them where the funds were kept and that any or all interest earned should be accounted to you.
    Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers. More ramblings atleaseholdpropertymanager.blogspot.com

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