aimee-lou
Totally Outnumbered!!
- Joined
- Dec 17, 2008
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Random question - My Dad passed away in December. We put his house on the market at the end of February as there is an outstanding mortgage amount on it. We were told that in order to not have to pay extra on the mortgage (i.e. charges) we'd have to sell within 12 months. We found a buyer very quickly and priced the house to sell with a small amount of profit (hopefully) to split between me and my brothers as inheritance and to cover costs.
The buyer signed the paperwork 2 weeks ago to say he's agreed to buy. His mortgage is all there, everything was poised for completion by the end of April. I rang on Wednesday to find out what was going on (strictly my brother is dealing with it all, but he's been ill) and was told that the buyer still hasn't brought in his deposit but as soon as that happens, things will move.
Two questions - what would happen if he didn't come up with the deposit now? He's signed (as far as I know anyway) but seems to be taking a long time.
How long after his deposit is received, will it take for the monies to be transferred to the solicitors so it can be divvied up to the various debtors and to ourselves. It's not much, but it would make life a lot easier as I'm not at work at the moment, and our car is on it's last legs. I could do with the extra to help get it fixed. If it's going to be months rather than days/weeks then I'll have to make alternative arrangements.
TIA - I have never had to deal with this before so all help advice is appreciated.
The buyer signed the paperwork 2 weeks ago to say he's agreed to buy. His mortgage is all there, everything was poised for completion by the end of April. I rang on Wednesday to find out what was going on (strictly my brother is dealing with it all, but he's been ill) and was told that the buyer still hasn't brought in his deposit but as soon as that happens, things will move.
Two questions - what would happen if he didn't come up with the deposit now? He's signed (as far as I know anyway) but seems to be taking a long time.
How long after his deposit is received, will it take for the monies to be transferred to the solicitors so it can be divvied up to the various debtors and to ourselves. It's not much, but it would make life a lot easier as I'm not at work at the moment, and our car is on it's last legs. I could do with the extra to help get it fixed. If it's going to be months rather than days/weeks then I'll have to make alternative arrangements.
TIA - I have never had to deal with this before so all help advice is appreciated.
