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Where can I sell gold for cash in Birmingham, UK?

UK. Can you sell a house and just keep the cash?

  • Say I was to sell my house to an estate agent for £250,000. Apart from the agents commission, could I just keep that cash or do I have to transfer it onto another house (this is based on there being no outstanding mortgage). In addition, say I was able to keep the cash, do I have to be registered at a house? In summary, can I just be homeless with £250,000 in my pocket? I supposes I should also ask if you can and under what circumstances, can you withdraw £250,000 cash?

  • Answer:

    no normal bank in the U.K would do this, you would need to do that in Switzerland if you want to do it in one big chunk of £250,000 of cash. I dont know about banks but post offices only do £10,000 a day maximum. In which case it would take you 5 weeks to take out all the cash. The reason for this is obvious, so you dont loose £250,000 if someone grabs your bag of cash on the way out of the bank. Once you have moved all the money to your own safe area that getting stolen is not any concern of the bank. They couldn't give a damn if you burnt it all for a fire.

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no normal bank in the U.K would do this, you would need to do that in Switzerland if you want to do it in one big chunk of £250,000 of cash. I dont know about banks but post offices only do £10,000 a day maximum. In which case it would take you 5 weeks to take out all the cash. The reason for this is obvious, so you dont loose £250,000 if someone grabs your bag of cash on the way out of the bank. Once you have moved all the money to your own safe area that getting stolen is not any concern of the bank. They couldn't give a damn if you burnt it all for a fire.

John Jones

yes, you can do all of these things - it's your money. But you'd be crazy to take the cash out. Even at the moment, £250k will get you a good few hundred a month in interest if put in a savings account. Money doesn't keep the rain off. also there is inflation, and savings rates don't keep up.

thewaythingsare

Estate Agents do not buy houses, but if you sell to a buyer you can do what you like with the money. You can give to me, the homeless, or burn it. It belongs to you. Yes you can withdraw it from a Bank, it is YOUR money. UK

Kernow Lady

yes, you can do all of these things - it's your money. But you'd be crazy to take the cash out. Even at the moment, £250k will get you a good few hundred a month in interest if put in a savings account. Money doesn't keep the rain off. also there is inflation, and savings rates don't keep up.

thewaythingsare

Estate Agents do not buy houses, but if you sell to a buyer you can do what you like with the money. You can give to me, the homeless, or burn it. It belongs to you. Yes you can withdraw it from a Bank, it is YOUR money. UK

Tavy

You can be homeless with £250,000 in your bank account - wouldn't fit in your pocket! You can withdraw the cash by giving the bank notice (usually at least 48 hours, possibly a bit more) and producing valid ID. Given the sum involved, the ID would be pretty stringent

Jo W

If you have a mortgage or owe money on the house, your creditors must be paid first, otherwise the deed will not transfer and the buyers money will not reach you.

falsi fiable

You can do this but it'd be madness and you'd lose a lot of interest if you had the amount in cash..but boy!! would you be popular

Corinne

yeah

Curtis Clay

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