Completion | Definition

Completion is the point in the conveyancing process when the seller moves out and the buyer takes full ownership of the property.

The completion date is set at the point of exchange of contracts.

On the day of completion:

  • The buyer's solicitor will send the balance of funds required to complete to the seller's solicitor
  • The seller's solicitor sends the title deeds and transfer deeds to the buyer's solicitor
  • The seller vacates the house or flat
  • The seller's solicitor pays the state agents fees
  • The buyer collects the keys from the estate agent and can move in

Most completions take place on a Friday.

See also:

Is Friday the best day to move home?

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Gaynor Haliday, Legal researcher

Author:
Gaynor Haliday, Legal researcher