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Jeremy Aldermartin
Jeremy Aldermartin, Solicitor
Category: Law
Satisfied Customers: 4642
Experience:  Dual qualified Solicitor and Attorney
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I would appreciate your advise on a Property Conveyancing,

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Hello I would appreciate your advise on a Property Conveyancing, particularly in a matter of transferring money from a buyer to a seller on the completion day. From my understanding, in the conventional route, a purchasing fund should be transferred from 1) buyer’s bank account to 2) buyer’s solicitor bank account then to 3) seller’s solicitor bank account and finally to 4) seller’s bank account.I am a cash buyer and my purchase funds is now held in my bank account in Thailand. Thai bank regulations state that they can not transfer the money from my Thai bank account to my UK bank account under the pretext that money sender & recipient can not be the same person. In this case1. Can I make a fund transfer (SWIFT transfer) from my Thai bank account directly to the seller’s bank account in UK on the completion day? And if it safe to do so?
2. I plan to appoint a Conveyancing Solicitor to handle my purchasing process. Should my solicitor and seller’s solicitor would agree of such money transfer?
3. Can I ask my solicitor to include special conditions regarding such money transfer into the contract of sale before undertaking the exchange of contract?Thank you for your advise.
JA: Where are you? It matters because laws vary by location.
Customer: I am currently base in Uk.
JA: What steps have you taken so far?
Customer: None. I am gathering information.
JA: Anything else you want the Lawyer to know before I connect you?
Customer: No.

Hi thank you for your message, given the issues the best option would be to appoint a conveyancing solicitor as you plan to do and then as is convention in any event transfer the money from your Thai account to your solicitor and they then send it to the sellers solicitor and they finally send it to the seller. That said I have responded to your specific queries below:

1. This is not at all usual and I have not heard of someone doing this, it is not recommended.

2. Yes

3. Yes, the seller would need to agree also.

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