The sale of a home purchase have their own releases . Help please? [lawyers fees] [equity release]

Q:Hi,

My Fiancee is selling her flat. The offer that's been put in for it we are about to accept but it doesn't cover the full balance of the equity release(s) she has on the flat.
However I have the money to settle the remainder of the balance. The remainder of the balance will be ￡6000 which is taking into account the Estate agents selling fees and Lawyers fees to settle the loans on the property. What I'm not sure of is, how would it work with paying the remainder of the balance? Would I need to chaps the payment from my account for the remainder of the balance, so that all the money needed is in the solicitors account, then he would settle all the loans?

My Fiancee is selling her flat. The offer that's been put in for it we are about to accept but it doesn't cover the full balance of the equity release(s) she has on the flat.
However I have the money to settle the remainder of the balance. The remainder of the balance will be ￡6000 which is taking into account the Estate agents selling fees and Lawyers fees to settle the loans on the property. What I'm not sure of is, how would it work with paying the remainder of the balance? Would I need to chaps the payment from my account for the remainder of the balance, so that all the money needed is in the solicitors account, then he would settle all the loans?

Basically yes. The solicitor will send a completion statement showing the total amount required for completion to take place. If you ask he will also handle the EAs fees but these are normally paid direct after completion.

the poster formerly known as
guy

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