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.
About the author
Gaynor Haliday is an experienced legal researcher and published author. She has had numerous articles published in the press and is a legal industry commentator.
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