money transfer necessary for deposit

[sun_sparks]

Ok, I'm having minor heart failure here.

We are supposed to pay the full deposit next Monday and sign the contracts, am we're all set. Only one small issue.

The boyf's parents don't have the cash immediately available that they are gifting him. We need €31,000 for the deposit (some of which we already have, some they're gifting, and some we'll be able to pay them back before we close).

It won't be in their account (PTSB) until Thursday. And we have a BOI account. So we're looking 4-5 working days to transfer the money.

Would it cause difficulty if they got the bank draft? Does this imply an interest in the property? Is it better to hold out until the money is transferred into our accounts?

Thanks in advance everyone!

 

[bacchus]

I would suggest that you talk to your solicitor, explain the situation, and postpone the signature of contract by a week or so, until money is available on your account... This is very common for signature to be postponed by few days, as a lot of house selling/buying are in a chain.