Query re payments made when buying a house

G

grudgehugger

Registered User
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Hi,

I've just gone sale agreed on a house and will be going through the closing process over the next few months.

I know that I pay the purchase price in 3 stages: booking deposit (to estate agent), balance of deposit (me to to my solicitor) and then balance of full purchase price (lender to my solicitor???).

When I pay money over to the solicitor, how is this normally done? When dealing with a solicitor who is working in their own practice, I assume a bank draft or equivalent is used - who is this made payable to?

All info appreciated!

thanks,

gh.
 
I paid the balance of the deposit into my solicitor's account via wire transfer, but a draft would have been fine to - payable to your solicitor.
 
i paid by cheque to solicitor and no problem... just keep receipts. When my mortgage went thru it was slightly higher than the balance and eventually received a cheque back from solicitor
 
I paid the booking deposit to estate agent by cheque, the balance of the deposit by cheque to my solicitor but when closing I had to pay balance by bank draft so as to be able to close that day. Otherwise I'd have had to wait for cheque to clear in vendor's account etc.
 
I paid the deposit to the estate agent, the balance of the deposit to my solicitor with a cheque made out to the vendors solicitor and then my solicitor took care of the rest, as in the bank sent it to them and they sent it on to the vendor.
Your solicitor will be able to tell you though, at no extra cost.
 
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