receiving funds from house sale

I received an offer on my apartment a few months ago and the buyers (who are cash buyers) are apparently going to sign the contract next Friday. What are the next steps after this and how long does it generally take to receive the funds once contracts are exchanged? Also, is it the buyer's or the seller's solicitors who hold on to the funds before I receive them? I ask because I'm unhappy with my own solicitors for dragging their feet in general and for being very slow in responding to my queries.

When exchanging the contracts your solicitors and the vendors' solicitors should agree a mutually acceptable closing date. As the buyers are cash buyers, there's no reason why this can't be soon after exchange of contracts.

Vendors give the cash to their solicitors. Their solicitors transfer this money to your solicitors around agreed closing date. Your solicitors transfers money to you.

OK, thanks LD