Help needed ASAP re sale proceed

[LMcKenna]

Hi all

Today I sold my property (Scottish Law) and have made a decent amount of money off this. I have just had a call from my solicitor to say that they have released the keys to the new owners but as they have paid by solicitor cheque they cannot release the profit to me until the cheque clears.

Is this correct? Surely if the funds are not cleared for me receiving the profit they should not be okay to release the keys to a house?

Any advise greatly appreciated.

 

[dereko1969]

Hi all

Today I sold my property (Scottish Law) and have made a decent amount of money off this. I have just had a call from my solicitor to say that they have released the keys to the new owners but as they have paid by solicitor cheque they cannot release the profit to me until the cheque clears.

Is this correct? Surely if the funds are not cleared for me receiving the profit they should not be okay to release the keys to a house?

Any advise greatly appreciated.

What did your solicitor who you are paying for legal advice say when you queried this?

Do you need the money this weekend?

The Cheque would usually be made from a bank to your solicitor unless they're buying without a mortgage (unlikely) so the money is safe.