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fergyguy

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2 hours ago, Machpoint005 said:

 

Are there really folk around who still don't bother to get a fixed fee quotation in advance, for conveyancing? 

 

If your solicitor won't play, change your solicitor!

Doesn’t stop them sending a bill for “work done”........ not that that makes them vampires. 

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2 hours ago, Machpoint005 said:

 

Are there really folk around who still don't bother to get a fixed fee quotation in advance, for conveyancing? 

 

If your solicitor won't play, change your solicitor!

 

Missing the point. 

 

If your seller pulls out on the day of exchange, your solicitor will already have done 80% of the work, and will require to be paid for it. 

 

 

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Just a quick update as some would appear to think I will have issues paying for my boat the day I get paid for my house? Today I have been into my bank and spoken to the manager who assured me if my solicitor does a rapid payment bank transfer on my request not the normal bacs the money will be in my account in or under 2 hours I have explained how much I then need to transfer to owners of the boat and again using the rapid payment bank transfer the two hours apply... I asked about issue money laundering etc and was told as long as I walk in with my passport and or photo driving license there is not going to be any problem making the payment on the very same day. Now either I’m missing something or Iv nailed this down... lol I’m sure I’ll find out 3 weeks today 

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1 minute ago, fergyguy said:

Just a quick update as some would appear to think I will have issues paying for my boat the day I get paid for my house? Today I have been into my bank and spoken to the manager who assured me if my solicitor does a rapid payment bank transfer on my request not the normal bacs the money will be in my account in or under 2 hours I have explained how much I then need to transfer to owners of the boat and again using the rapid payment bank transfer the two hours apply... I asked about issue money laundering etc and was told as long as I walk in with my passport and or photo driving license there is not going to be any problem making the payment on the very same day. Now either I’m missing something or Iv nailed this down... lol I’m sure I’ll find out 3 weeks today 

Martin you and I will be collecting your boat on 4th mate no problems 

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On 06/02/2020 at 09:11, Mike the Boilerman said:

 

 

Really? What rule is that then,please? 

 

I'm most curious as when I sell a house I get the money immediately. I've never bought a boat from a broker so no direct experience but I've never heard of boat brokers being subect to any money laundering regulation. 

 

My gut feeling is they just told you this to hold off handing over the boat to you for some other reason, possibly commercial like making sure a bank transfer doesn't get reversed.

 

 

You may/may not remember that I sacked Solicitor #1 for intransigence on sale of my flat [ turned out also incompetent], she told me I would get no money for four working days, which was nine calender days.

You are on your own. 

Edited by LadyG
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5 minutes ago, fergyguy said:

Just a quick update as some would appear to think I will have issues paying for my boat the day I get paid for my house? Today I have been into my bank and spoken to the manager who assured me if my solicitor does a rapid payment bank transfer on my request not the normal bacs the money will be in my account in or under 2 hours I have explained how much I then need to transfer to owners of the boat and again using the rapid payment bank transfer the two hours apply... I asked about issue money laundering etc and was told as long as I walk in with my passport and or photo driving license there is not going to be any problem making the payment on the very same day. Now either I’m missing something or Iv nailed this down... lol I’m sure I’ll find out 3 weeks today 

I don't think the issue was paying for your boat the same day your house completes it was the money laundering issue, but glad you have the peace of mind now and can look forward to boat ownership and a better way of life.?

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11 minutes ago, fergyguy said:

lol I’m sure I’ll find out 3 weeks today 

 

So, have you exchanged contracts on the sale? Or not?

 

 

Coz if you haven't, there is still scope for delay. Just sayin', as I don't think you've properly taken this on board so far...

 

 

 

 

 

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Contracts are signed and in the hands of solicitors so far the buyers have given no reason for concern... they don’t have or need to sell a property and have at the request of our solicitor shown they have funding in place now YES the world could stop spinning on the 28th but I’m prepared to take a gamble it won’t ?.If I’m proven to be wrong I promise be the first to say “ You told me so”

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32 minutes ago, fergyguy said:

Contracts are signed and in the hands of solicitors so far the buyers have given no reason for concern... they don’t have or need to sell a property and have at the request of our solicitor shown they have funding in place now YES the world could stop spinning on the 28th but I’m prepared to take a gamble it won’t ?.If I’m proven to be wrong I promise be the first to say “ You told me so”

It's will be an exciting day that's for sure, enjoy it and many more 

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27 minutes ago, fergyguy said:

Contracts are signed and in the hands of solicitors so far the buyers have given no reason for concern... they don’t have or need to sell a property and have at the request of our solicitor shown they have funding in place now YES the world could stop spinning on the 28th but I’m prepared to take a gamble it won’t ?.If I’m proven to be wrong I promise be the first to say “ You told me so”

I dont think anyone was suggesting that the world will end... merely that, even if you have "agreed dates" with your buyers, there might be a number of things that their solicitors are still checking on their behalf, that neither of you are aware of and, if they are getting a mortgage, their solicitor may not yet have the unconditional mortgage offer, and a whole load of other things.

 

If contracts haven't been exchanged, there is almost certainly something outstanding, usually on the buyers side, the deal isn't legally binding, and it could either drag on for longer than you both hope, or fall apart. Mostly, agreed deals go through, but some don't. The world of selling and buying houses in England/Wales is very much a fingers crossed exercise until exchange of contracts.

 

You could ask your solicitor to ask their solicitor if he/she is ready to exchange contracts for completion on 28th and, if not, why not? It's quite a normal query at this stage. You could also ask your buyer to ask their solicitor the same question, on the basis that you are both hoping to complete at the end of the month.

 

Hope it all goes OK :) 

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Buyers have the funds in their account proof shown to solicitor and both ours and buyers solicitors are saying no issues and the deal is happening 28th so in 21 days we will know for sure... as a lot of things might change I could win the lottery and sod the Widebeam I’m off on my Sailboat to Monte Carlo 

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5 minutes ago, fergyguy said:

Buyers have the funds in their account proof shown to solicitor and both ours and buyers solicitors are saying no issues and the deal is happening 28th so in 21 days we will know for sure... 

 

You really are missing the point big time.

 

If there are no issues, then you would have exchanged contracts. But you haven't so there ARE issues outstanding. You just haven't been told about them. 

 

As Richard says the chances are high it will go through just as you expect, but it is by no means a done deal until contracts are exchanged. Either side may pull out. 

 

 

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On 06/02/2020 at 09:57, Rickent said:

I would imagine if you walked into your bank and deposited let's say 50k, questions would be raised as to the origin of the money.

I have deposited amounts in excess of £50k and never been asked.

 

I transferred £180,000 to a FX broker with no questions about where it had come from.

I transferred £80k into my Sons account and again no questions.

I paid a boat broker £40k in £20 notes he happily accepted them, I took the keys and took the boat.

 

I think that maybe your transaction history may affect how you are treated.

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4 minutes ago, Alan de Enfield said:

I have deposited amounts in excess of £50k and never been asked.

 

I transferred £180,000 to a FX broker with no questions about where it had come from.

I transferred £80k into my Sons account and again no questions.

I paid a boat broker £40k in £20 notes he happily accepted them, I took the keys and took the boat.

 

I think that maybe your transaction history may affect how you are treated.

If you have a history of high value transactions then maybe that's the norm and no questions asked but I am pretty certain if I walked into my local Santander branch and chucked 50k in twentys on the counter questions would be asked.

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I’m 63 and run businesses since I was 20 Iv bought and sold countless houses and commercial sites so I think I do have and understanding on how things work regards contracts etc but hey who knows I could be wrong so I’ll keep you updated.... but thanks for commenting and your input that’s what forums like this are good at and I for one genuinely take note of everything that’s said.

Edited by fergyguy
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3 minutes ago, fergyguy said:

I’m 63 and run businesses since I was 20 Iv bought and sold countless houses and commercial sites so I think I do have and understanding on how things work regards contracts etc but hey who knows I could be wrong so I’ll keep you updated.... but thanks for commenting and your input that’s what forums like this are good at and I for one genuinely take note of everything that’s said.

Everything will be fine.

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19 minutes ago, Alan de Enfield said:

I have deposited amounts in excess of £50k and never been asked.

 

I transferred £180,000 to a FX broker with no questions about where it had come from.

I transferred £80k into my Sons account and again no questions.

I paid a boat broker £40k in £20 notes he happily accepted them, I took the keys and took the boat.

 

I think that maybe your transaction history may affect how you are treated.

The key word here is TRANSFERRED. Transferring money leaves a trail. 
depositing the same amounts in used notes from under your mattress is a different matter. 

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7 minutes ago, Dyertribe said:

The key word here is TRANSFERRED. Transferring money leaves a trail. 
depositing the same amounts in used notes from under your mattress is a different matter. 

 

29 minutes ago, Alan de Enfield said:

I paid a boat broker £40k in £20 notes he happily accepted them, I took the keys and took the boat.

I have also bought boats privately using an Aldi carrier bag full of cash.

It is a surprisingly good negotiating tool.

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2 minutes ago, Alan de Enfield said:

 

I have also bought boats privately using an Aldi carrier bag full of cash.

It is a surprisingly good negotiating tool.

Privately is a different kettle of fish, a private individual can do as they like. 

Dis you pay cash to a broker recently? That is since 2017?

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