What Happens on Completion Day?

Completion day is the final step in the moving process, when the payment is sent to the seller’s solicitors, the keys are released, and the seller moves out. On completion day, the buyer becomes the official owner of the property, and they can finally move into their new place.

What to do on completion day

Completion day typically occurs from 7 to 28 days after exchanging contracts, and is agreed between the buyer and seller. Every buyer and seller in the chain will have the same completion day, which will be a weekday.

To complete, the buyer’s solicitor must transfer the purchase money to the seller’s solicitor. Once the transaction is confirmed and the paperwork is complete, the seller’s solicitor notifies the estate agent to release the keys.

If there is no chain when buying, completion will usually take place in the late morning. But for longer chains, this will likely take longer.

On the day of completion, the seller usually must vacate the property by 2pm. The removals company should be ready to go as soon as the seller has released the keys.

Can you exchange and complete on the same day?

Yes, it is possible to exchange and complete on the same day. However, this can lead to a lot of stress and rescheduling if there are unforeseen delays. Most people prefer to complete 1—4 weeks after exchange.

Where do you collect keys from on completion day?

You should be able to collect the keys from the estate agent. You do not need to collect the keys or move into your new home on completion day if you do not want to. However, if you are a seller in a chain, you will need to move out of your existing property, so most people who are selling and buying move out of their sale property and into their purchase property on the same day.

Ahead of moving day, you should have packed everything up and on the morning of completion, you should take final meter readings.

At DFA Law, our experienced conveyancing solicitors can help make your completion day run as smoothly as possible. For more information, contact info@dfalaw.co.uk or call 01604 609560.