4 days is very respectable and no sane person will persue you for interest on 4 days.
I wonder why the funds have to sit in your solictor's account for 5 days. I have never heard of this and usually present the funds on the day of closing. I think that this is a bit fishy.
It's not fishy, though it's not always a requirement either. It depends on the circumstances, especially the relative location of solicitors. If it's a face-to-face closing, your solicitor can have the cheque drawn down on a just-in-time basis and hand it over with drafts obtained by purchaser for the balance of the monies - hence, everything provided on the day. However, if it's a postal closing, your own solicitor will usually draw down the monies a few days in advance to allow them clear into their own account, and then issue a draft which has to be posted to the other solicitor in time for the closing date, as the vendor's solicitor must actually be in receipt of funds in order to close.4 days is very respectable and no sane person will persue you for interest on 4 days.
I wonder why the funds have to sit in your solictor's account for 5 days. I have never heard of this and usually present the funds on the day of closing. I think that this is a bit fishy.
My undertstanding is that interest can be claimed from the date of the completion notice, which must be after the agreed closing date
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