British Expats - Money from house sale

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Hotashell

Jan 19th 2007 12:59 pm

Money from house sale

does any one know how long you generally have to wait for your money to hit your bank account when you sell your house in the uk:confused:
m thinking we will have to book into a hotel
cheers:thumbup:

utopia

Jan 19th 2007 1:20 pm

Re: Money from house sale

Hi,

Not to sure what you mean exactly?

But when you sell in the UK.

Your mortgage company exchanges contracts with the buyers mortgage company.

Then a completion date is decided.

The day of completion the monies owed to you will be transferred to your account before the close of business for that day.

So anytime before 5pm on a working day.

So the minute completion is achieved you get your money immediately!

Hope that helps:)

Hotashell

Jan 19th 2007 1:28 pm

Re: Money from house sale

thx for that , some one told me it would take a few days
i hope that isnt the case:unsure:

JAJ	Jan 19th 2007 1:36 pm

Re: Money from house sale

Quote:

Originally Posted by Hotashell (Post 4301617)

thx for that , some one told me it would take a few days
i hope that isnt the case:unsure:

Do you mean a few days to get the funds to Australia from the UK?

Hotashell

Jan 19th 2007 1:41 pm

Re: Money from house sale

no i mean the day you sell your house in the uk do you get your money instantly
or do you have to wait :o

breezeboylan

Jan 19th 2007 2:48 pm

Re: Money from house sale

Quote:

Originally Posted by Hotashell (Post 4301642)

no i mean the day you sell your house in the uk do you get your money instantly
or do you have to wait :o

You get the money into your account on the day that you complete. We had to pay the solicitors £24 for this or else wait 3 days after completion for the funds to clear.
Tracie

mark213

Jan 19th 2007 3:56 pm

Re: Money from house sale

Quote:

Originally Posted by breezeboylan (Post 4301794)

You get the money into your account on the day that you complete. We had to pay the solicitors £24 for this or else wait 3 days after completion for the funds to clear.
Tracie

Mortgage companies usually insist to CHAPS it. Its sent the same day, but usually only forwardable the next day. If its a large sum the security of same day arrival is a nice feeling.

esperanza

Jan 19th 2007 5:43 pm

Re: Money from house sale

It depends on whether you want to pay the ~£20 fee for telegraphic transfer, which is instant. Or you can opt to not pay the fee and wait the 3-5 days for a normal bank transfer.
We completed about ten days ago, and I had the money in our account by about 2pm that day.

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