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Closing day - does money have to be cleared into

  • 25-01-2018 11:52am
    #1
    calgary bound
    Registered Users, Registered Users 2 Posts: 149 ✭✭


    As the title suggests - does the money for a sale need to be cleared into the sellers solicitors account or does it just have to be in my solicitors account and be en-route to the sellers sol? I am not sure if it can close on the basis that my sol is in receipt of all funds and undertakes to send them to the sellers sol? Both sols bank with AIB. Just trying to figure out what day next week we will get the keys.

    Thanks in advance.


Comments

  • #2
    Dermo
    Registered Users, Registered Users 2 Posts: 1,514 ✭✭✭Dermo


    calgary bound wrote: »
    As the title suggests - does the money for a sale need to be cleared into the sellers solicitors account or does it just have to be in my solicitors account and be en-route to the sellers sol? I am not sure if it can close on the basis that my sol is in receipt of all funds and undertakes to send them to the sellers sol? Both sols bank with AIB. Just trying to figure out what day next week we will get the keys.

    Thanks in advance.

    The funds usually need to be in the seller's solicitors account. When I bought a couple of months ago, my solicitor & the vendor's solicitor were both with AIB & the money transferred between their accounts immediately.
    Now we ended up getting the keys 6 hours before closing from the seller's directly in a very odd turn of events, but that's another story.


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