Exchange/completion payments

[MrsAFlowerpot]

Could someone please explain to me how the exchange of money works for exchange and completion - does the solicitor deal with all of this?

We are also looking to pay the estate agents from the proceeds of the sale - is this something the solicitor will do too?

Many thanks from a complete novice (as if you couldn't tell!)

Yep, solicitors will sort all of this out. They'll deduct their fees and estate agent fees from the proceeds of the sale.

Thanks so much Banana. The closer it gets the more stupid questions I have!!!

We are in the midst of all this too; we had to transfer the deposit plus fees for the agent and solicitor before they would exchange. In fact we're hoping to exchange today so am currently crossing everything!

I would imagine that if your sale will leave you with enough left over to make all the payment then that will work out fine.

The whole thing is very stressful though isn't it?

I never thought anything would be more stressful than the final few weeks or pregnancy, how wrong I was