I’ve just sold a house and will be completing on another in a month or so all going well.
I’d thought it would have made sense, or even be safest for my solicitor who’s handling both transactions to hold onto the proceeds of my sale in trust until it’s time to pay for the new one, but he insists on sending the balance to me now - is this typical?
it’s a mid-six figure sum so I’m a little worried about being so far over deposit guarantee limits, plus seems pointless when I’ll be transferring it back to him again soon anyway. Bit baffled really but he hasn’t volunteered an alternative.
I’d thought it would have made sense, or even be safest for my solicitor who’s handling both transactions to hold onto the proceeds of my sale in trust until it’s time to pay for the new one, but he insists on sending the balance to me now - is this typical?
it’s a mid-six figure sum so I’m a little worried about being so far over deposit guarantee limits, plus seems pointless when I’ll be transferring it back to him again soon anyway. Bit baffled really but he hasn’t volunteered an alternative.