Conveyancing - Completion question

[rose75]

I would be grateful if someone could tell me when it became the norm for the sale proceeds to be transferred from solicitor to the seller in the next working day following completion. This seems to me to be to be a contradiction of the term 'completion'.

[des8]

Re: Conveyancing - Completion question

Hi and welcome

Would that be the buyer's solicitor or seller's solicitor to whom you refer?

[rose75]

Re: Conveyancing - Completion question

Hi and welcome

Would that be the buyer's solicitor or seller's solicitor to whom you refer?

Hi, thank you for your quick response. It is the seller's solicitor that I'm referring to.

[Diana M]

Re: Conveyancing - Completion question

tell me when it became the norm for the sale proceeds to be transferred from solicitor to the seller in the next working day following completion. This seems to me to be to be a contradiction of the term 'completion'.

Completion date and time should be in the contract at exchange. This is normally 2 pm. Any funds which arrive late from the buyer or their solicitor can attract a 'late completion' charge.

The seller's solicitor will inform their client that the funds have arrived so that the keys can be released.

I'm not sure what you are asking but has a solicitor been slow to transfer the funds they received (so completion took place) to the client?

What's happened in your situation or is this a hypothetical question?

Di