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Solicitor holding funds 4 weeks after house sale (cash)

  • 20-06-2017 3:04pm
    #1
    DubInTheWest
    Registered Users, Registered Users 2 Posts: 408 ✭✭


    Hi folks just want to pick your brains here about situation that I'm witnessing. A close family member sold there house recently, it was closed 2 weeks ago today and she was told it was a cash sale by the estate agent. All went well, it was closed 2 weeks ago today. The family member in question is quiet and doesn't want to 'harrass' the solicitor for her money. She's finding it hard to contact them as they don't work certain days. Just today she got through and was told they only received the cheque and it would be another 2 weeks before they can give her her money. They said they will contact her when they have it. The people have moved into the house 2 weeks ago but still she hasn't got her money, it feels wrong.

    Is this the norm with how things work in ireland with house sales and solicitors ?

    Thanks


Comments

  • #2
    nuac
    Registered Users, Registered Users 2 Posts: 6,769 ✭✭✭nuac


    You have to allow a reasonable time for clearance of cheques and compliance with undertakings


  • #3
    DubInTheWest
    Registered Users, Registered Users 2 Posts: 408 ✭✭DubInTheWest


    Hi nuac and thanks for the reply. So this should be about right then ? They said they only got the cheque today and it will another 2 weeks before it will be fully sorted. I think if they would have clarified the time it takes etc.. it would have been better but when its just the expectation of getting your money and seeing people living in your house it can make people angry.

    Thanks for your reply


  • #4
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


  • #5
    wersal gummage
    Registered Users, Registered Users 2 Posts: 1,666 ✭✭✭wersal gummage


    DubInTheWest wrote: »
    it was a cash sale by the estate agent..... Just today she...was told they only received the cheque..... ?

    It's off the point really but I'm slightly curious about this aspect. I wouldn't hand over ownership a car to a person in exchange for a cheque, let alone hand it over in return for a promise that a cheque will be sent in the post in a week or two. I'd want the cheque cashed first (in reality, I wouldn't accept a cheque at all).

    I presume when it comes to this kind of transaction there are various safeguards and the buyer's solicitor gives an undertaking or guarantee to the seller's solicitor that they (the buyer's solicitor) have control of the necessary funds and will transfer it? I'm sure with a mortgage it's very straightforward to get a guarantee from the bank, who presumably wouldn't send a cheque to the buyer but directly to a solicitor. Just curious with a cash buyer. I would be very reluctant to hand over anything I was selling until the cheque was cashed.


  • #6
    Victor
    Registered Users, Registered Users 2 Posts: 78,523 ✭✭✭✭Victor


    DubInTheWest wrote: »
    it would have been better but when its just the expectation of getting your money and seeing people living in your house it can make people angry.
    Would I be correct in saying it was never your money and never your house? Maybe you are taking this too personally?


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  • #7
    DubInTheWest
    Registered Users, Registered Users 2 Posts: 408 ✭✭DubInTheWest


    Victor wrote: »
    Would I be correct in saying it was never your money and never your house? Maybe you are taking this too personally?

    Thanks for your interest Victor :rolleyes: Yes it was never my money or my house and while I know absolutely nothing about the legal profession I do have feelings, especially for close family. Mod deletion. This whole situation might be the done thing and that is fine, I was just inquiring. As you say, maybe I'm just taking it too personal!


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