News0 min ago
selling house--when do i get my money?
4 Answers
under scottish law--i have just sold my flat--exchange date last fri 6th nov--i moved everything out and handed over the keys--i thought the purchase money would be in my account the same day--it wasn't--i contacted my estate agent /solicitor who told me the buyer's agent had deposited a cheque with them on the 6th but would take 7 day to clear at the bank so i have another week to wait--if i give someone payment by cheque it only takes 3 working days to clear--my solicitor says i have to ask the bank why this is taking 7--i am sure someone is at it here--surely the buyers agent would pay by bank transfer so the money is available on the exchange date--the money is now sitting somewhere earning interest for someone--not me--i would appreciate if anyone could clarify this process for me and should i actually have had the money available to me on the exchange date--i mean i wouldn't hand over the keys to my car in a sale until i had been paid--now the title deeds and keys to the house have gone and i haven't been paid yet--thanks to anyone who can enlighten me--cheers
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