How long should a solicitor hold on to money after apart. purchase closes.

M

MiaMia

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Hi
I closed on the purchase of my apartment in the middle of last month. I had to pay a 10% deposit but as my mortgage was 92% I had 2% of the purchase price left over. The Solicitor has taken his fees from the 2% but has not refunded me the considerable amount left over. As it is over a month since closure - Is it not a bit unreasonable to still hold onto this money?
 
Have you contacted the solicitor about this outstanding amount? If so what did they say?
 
You may be in for a slight let-down; Solicitors Fees plus outlays could come to €2k without too much bother; Another figure which often gets overlooked in the budget is the year one management charge, which would usually be paid at closing; This could easily be €1200. So there could be a figure of €3.2k gone out of the 2%, which, depending on your purchase price, may well leave a relatively modest sum to be sent out to you. Of course, it should still be sent out reasonably promptly- a reminder to the solicitor would be completely appropriate, given that over a month has passed
 
Thanks Clubman and MOB.

I have calculated the amount owed to me - Its an entire months salary! I used to audit solicitors accounts and as the fee notes were issued, agreed (and presumably paid) last month- the calculation was easy enough.

I have emailed and phoned the solicitors office - to be told that the Solicitor who was dealing with my case has left the office and they don't know who is dealing with the case and they will phone me back - which of course never happens.
 
In my opinion you should put your query in writing to establish a paper trail on this matter.
 
You could either call into the office personally and ask to have someone look at your file. Alternatively you could contact the Law Society and explain what has happened. It's not really an excuse to say that a specific solicitor has left the firm as the fees went to the firm as a whole.
 
ask to speak to a senior partner in the firm and make sure s/he follows up on it as a matter of urgency
 
The Law Society will suggest that you go back to the firm and request that they resolve the matter. They will not be bothered about a delay of a month, particularly if explained by staffing changes. They may be more interested later on if the matter remains unresolved.
 
The Law Society should write to your solicitor requesting an explanation as to why you haven't received the balance of your money. They will point to staffing changes but it may also speed them up to actually posting a cheque.

You should first write to the firm setting out your complaint and give them a time limit to respond (14 days) in default of which you will report the matter. You will need to send copies of all correspondece, the solicitors invoice and any other relevant documents.
 
FKH said:
The Law Society should write to your solicitor requesting an explanation as to why you haven't received the balance of your money. They will point to staffing changes but it may also speed them up to actually posting a cheque.

You should first write to the firm setting out your complaint and give them a time limit to respond (14 days) in default of which you will report the matter. You will need to send copies of all correspondece, the solicitors invoice and any other relevant documents.
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Thanks FKH it looks like I will be following this advice.
 
Tell them that you're calling to the office on a specific date 7 days away to pick up your cheque, and just land in the office, refusing to leave until you get your cheque. Speak loudly (but politely) in reception when other customers are around about how unacceptable these delays are.
 
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