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Using sale proceeds as deposit for the new house

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zuza96 · 18/04/2023 16:07

So we are using our equity as the deposit for our new build. My question is will the balance of sale proceeds be transferred to us by telegraphic transfer us described in our sale questionnaire from our solicitors and then we'd have to transfer this sum ourselves to the new build developer or does the solicitor do this for us? because I don't understand why the telegraphic transfer for sale proceeds is in the form if the solicitor would transfer the deposit to the developer himself?

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