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01-05-2019, 12:33   #16
Dolbhad
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I would strongly advise you seriously consider anything other than returning the funds to the bank, at least until you know where you stand. Normally drawdown is complex and protracted.
I agree. I would only be returning money to bank if sellers pull out of the sale. It’s not easy to send money back and drawn down again. I’d be afraid the bank would consider it redeeming the mortgage. And may look for extra paperwork on drawn down. Just pay the first mortgage payment
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01-05-2019, 12:38   #17
kippy
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I agree. I would only be returning money to bank if sellers pull out of the sale. It’s not easy to send money back and drawn down again. I’d be afraid the bank would consider it redeeming the mortgage. And may look for extra paperwork on drawn down. Just pay the first mortgage payment
That's fair advice but the OP is in a ridiculous situation - which appears to have been brought on by poor advice/timing by their solicitor.
If the contract doesn't come back signed - they are in a woeful spot!
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01-05-2019, 12:40   #18
Dolbhad
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That's fair advice but the OP is in a ridiculous situation - which appears to have been brought on by poor advice/timing by their solicitor.
If the contract doesn't come back signed - they are in a woeful spot!

Completely agreee - solicitors fault but sending money back isn’t an option unless sellers aren’t going ahead. Least auctioneer says it will go ahead - just a delay. But a strong worded complaint to solicitor should go in. Threaten to hold them responsible for the mortgage payment or something to get them to put pressure on sellers to complete.
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01-05-2019, 12:44   #19
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We did that with our solicitor and he threatened to send the money back to the bank and got annoyed on the phone. He said he was trying to speed things up on our end that’s why the money came.

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Completely agreee - solicitors fault but sending money back isn’t an option unless sellers aren’t going ahead. Least auctioneer says it will go ahead - just a delay. But a strong worded complaint to solicitor should go in. Threaten to hold them responsible for the mortgage payment or something to get them to put pressure on sellers to complete.
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01-05-2019, 12:49   #20
Dolbhad
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We did that with our solicitor and he threatened to send the money back to the bank and got annoyed on the phone. He said he was trying to speed things up on our end that’s why the money came.
I’d keep the funds where they are but keep annoying him until it closes. And ask for a definite closing date and a reason why the delay. Best better may be auctioneer if they are good to get it moved along.
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01-05-2019, 12:56   #21
3DataModem
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The money went out today for the first payment, can we still send the money back to the bank?
Don't send the money back. The bank are going to be super annoyed with your solicitor, and this may complicate things when you go to draw down again (also they may charge for this).

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We are still in the dark with closing date and our solicitor is getting irritate with us when we ring him.
Your solicitor screwed up. He has most likely given several undertakings to the bank about contracts, life cover, etc that are untrue. This is why he is pissed off, he knows the bank are going to be super unhappy with him, plenty of solicitors are reported to the law society for false undertakings.

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Not sure what to do now, EA said it will go through just some complications
Just get contracts signed, and get house closed. Pay your mortgage. You are not really out of pocket, just paying it off a little earlier than planned. If things drag on for a long period, then your solicitor has a big problem.


Again; things can only get worse by returning the money, not better.
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01-05-2019, 13:00   #22
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This is really bizarre! I hope, for the OPs sake, that the sale goes through. If not, they are in a right mess. Even if it does work out ok, I would consider reporting the solicitor to the law society - this is the sort of situation that you are paying him to avoid!
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01-05-2019, 13:00   #23
3DataModem
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He said he was trying to speed things up
Most likely he gave false undertakings (i.e. ones he wasn't 100% certain he could comply with) to the bank to facilitate drawdown. There is no other way to get drawdown from a bank these days.

Like this guy:

https://www.irishtimes.com/news/crim...bank-1.3458412

And this guy:

https://galwaydaily.com/courts/galwa...or-misconduct/

Get the sale closed, press the auctioneer. Your solicitor is already sufficiently motivated to get it closed ASAP no doubt
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01-05-2019, 13:11   #24
mcbert
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We sold our house a few months ago, but we learnt during the process that the buyers solicitor had requested the funds from their bank and then had to return it, as it was all done far too early. We put it down to their solicitor not really paying much attention to the details... few weeks later they got the funds again and sale closed normally. Very odd.
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07-05-2019, 15:34   #25
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Did you get your sales closed OP?
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