Did you receive your money the same day you sold your house?

[stressedoutErick]

Losing my shit here.

We completed today. The money still hasn’t hit our bank and we need it to move in to new property. We had to be out by 2pm, new buyers are chomping at the bit to get in.

Dh said the solicitor said she sent it by Bacs this morning. I’ve just checked on line and it says Bacs take THREE working days 😱😱😱

He said it’s instantaneous. Google said different.

I’ve just seen online it could go through CHAPS. I’m fucking praying it does.

Can’t get hold of solicitor to check?

Any one shed any light?

i suspect some confusion here. Why is it coming to your bank account and not directly from your solicitors escrow account to the sellers solicitors escrow account, via chaps. This is the normal process as is tightly controlled for solicitors.

Could you or your husband have misunderstood,

GummyGoddess isnt OP saying they havent received the money?

CHAPS is absolutely standard for house purchases, always has been. The money moves the same day, if before the cut off. It'll probably happen in the next hour or two.

BACS is no good because it takes 3 days, and if it's a lot of money, it costs more in interest than the £25 or whatever it is CHAPS fee.

Faster payments also isn't used because there's usually a £10/20k upper limit so no good for house purchases.

Have you tried emailing your solicitor rather than calling? Sometimes works better.

Another one here who thinks the money will be travelling between solicitors client accounts rather than your personal accounts.

Good luck anyway, it's a very stressful day. Memories of moving days can send me gibbering into a corner.

Your buyers have paid and solicitor has confirmed so they should be able to get keys.

The solicitor should transfer to whoever you are buying from's solicitor.

No, she's saying their solicitor sent the money from their buyers onwards (I think).

Oh my bad completely misread that then

OP...are you moving (hopefully) into your new property today ?. If so, like other posters have said, you will not actually see the money, it will go to your solicitor from your buyers solictor, then onto the solicitor you are buying from.

Unless you are buying at a later date

Did you have one firm acting on both the sale and purchase? CHAPS is the only method for same day money trasfers which are a 'given' on Moving/Completion Day.

Has it all been sorted out now?

If the solicitor/conveyancer is avoiding your tel calls then email a Partner. They will react. Trust me

We’re renting.

Tbh were going to make a complaint about her. She has hindered the entire process, we’ve been dealing with four sets of solicitors (as there are some land issues) and only ours were being difficult. Twice we’ve had to go over her head and at one point cut her out of communications because of the trouble she was causing.

Dh managed to get hold of her and she told him to clear the house and put it on the garden as she will charge us £1500 for breach of contract.

Dh is in fully on panic/stress head mode

Equity money from the house sale reached my account by 4pm
On the same day that I moved.

I hope the same happens here lets

Work in finance at a solicitors. You can send same day BACS so try no panic - it likely has been sent but it doesn't necessarily reach other side immediate as it is in a processing queue at the bank. If it has been sent some day bacs unless the bank flags it for review (and that is unlikely) it will arrive today

Ignore the typos and try not to panic!

So you're renting just now, first time buyers? The money won't go into your account. Well it didn't when we bought. Straight to the next solicitor.

mother no I’m still here. The van Dh dad got was too small so we’re having to pack it and unload it his house, then pack up what’s left and wait till it drops then get new keys drop of van load then drive back to Dh dads to get the rest 🙈

What a nightmare

When I bought my old house it took until 3.00 for the phone call to say that the money had transferred & we could collect the keys. I had been ringing the solicitor every hour all day .

Our solicitor forgot to release our money,it took until 5pm to get our keys

Can you ask for a partner to deal with it? monies on completion go via TT as people have said. When I worked in conveyancing you cannot let keys be release until monies have cleared. I would get someone else in the firm involved now as she maybe liable.

Op you seen all the posts saying that the money wouldn't be going into your account?

rain she is saying it’s nothing to do with her that the bank hasn’t delivered our money. She sent it. Job done. Just that our own solicitor will charge us £1500 if we don’t leave our house now.

I’m past panicking. Just sat planning on what to say when I complain about her. Real arsehole

Kay yes it is. We have sold out house. We have a lot of equity in it. We are going in to rented

I’m confused. Have you sold your house and now renting? If so why aren’t you moving to your new home?

I don't understand.

You are a first time buyer, your solicitor has sent the funds to the solicitor of the people you are buying from? Have they received the money yet? is someone buying the house you're renting too?