When do you get the money on a house sale with no chain?

[zePHYRWORKcat]

Sale completes on Friday so what happens then... is there more to do before the money for the house comes through?

The money is transferred to you on the day of completion.

Thanks

Your solicitor should let you know when the money lands from your buyer or with your seller (depending on where you are in the sale - buyer/seller)

We completed on a Friday and our money came through to our bank on the following Tuesday.

Don't be alarmed if the money takes a few hours to get from one account to the other. Money quite often 'disappears' into the ether and then turns up again a few hours later in the right account

That's unusual Gobble.

Yeah, I think last time we bought and sold it came through the same day.

Solicitor was crappo this time

It gets electronically transferred into yur solicitors bank account at the moment of completion, doesn't it? Then if you ask the solicitor to transfer it immediately to you, as long as that takes, I suppose. Your solicitor will probably give you a atatement with the balance after fees and 'disbursements' are deducted. Discuss this with your solicitor if you want to pay the bill separately.

Yes, Blu. 'Completion' is when everything is tied up and the finances are transferred, ie when the new place is yours

Your solicitor will have requested the funds be made ready for transfer (with yout lender) at the point of exchange of contracts.

yes, he took our fees out adn also paid the estate agent for us and then transferred the remainder to us

ours took till the tuesday. which was awkward as we needed the money on the friday to move into our rented place. we were all packed up and ready, so spent the night in a hotel, and PIL gave us the money for the rent on the saturday.

They have to pay off the outstanding mortgage first before forwarding it to your account net of fees etc.

It depends how you have requested the funds & what time the funds are received at the solicitors. If you have requested it by CHAPS you should get it the same day as long as the funds are with the solicitor buy their cut off time for sending out and you will get Charged for the CHAPs charge too.
If you requested buy BACS it will take 3-4 days and you shouldn't be charged.
A solicitors cheque is also classed as cleared funds so depending on your bank you may be able to draw on one imediately (I did when I was paid by cheque my first week and that was an office account cheque!!)