On Mon, 25 Oct 2004 22:22:18 +0100, "RichardS" noone@invalid wrote:

"MM" wrote in message
.. .
On Sun, 24 Oct 2004 10:11:12 +0100, Peter Ramm
wrote:

On Sat, 23 Oct 2004 18:26:33 +0100, MM wrote:

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

I would definitely have it as a transfer. I read over last couple of
months of someone who had sold their house and the money was sent as a
cheque. Unfortunately, the cheque was "intercepted" - a bank account
in the name of the beneficiary opened and the money disappeared.
(I've Googled for it and checked archives but can't find original
article)

Well, I was planning - if I were to decide on the cheque method - to
take the cheque in my hot little hands, cross the High Street to the
Nationwide and pay it in, beating off muggers and other ne-er-do-wells
in the process.

My real question is, which is the absolute SAFEST method available to
guarantee* that the payment reaches my account?

* Yes, I know NOthing in life is guaranteed 100%, but let's say, as
near as dammit!

MM

Mike,

take a deep breath and chill a little over it - I realise that it's a huge
sum of money and represents your future financial security, but it's a
routine transaction & its played out hundreds of times every week over the
lenght and breadth of the country.

Your solicitor ought to be advising you on this stuff, and if they don't
your bank manager will probably be falling over him/herself to advise you on
the safest and fastest route to get all of they money into your account in
their bank...

If I were you, I'd go CHAPS. Anything else is insecure (potentially) and
adds a couple of days delay, which is madness.

Oh, and with appropriate prior arrangement, you can generally transfer ANY
amount of money (how do you think that big companies get bought/sold?).

Yes, I have decided that CHAPS will be the preferred method.

MM