What Happens on the Day of Completion?


Completion day is the final step in the Conveyancing process for both the buying and selling of a property. The buyer’s Conveyancing Solicitor will transfer the final funds to the seller’s Conveyancing Solicitor and the buyer will receive the keys to the house or flat, finally being able to take possession and hopefully move in right away.

When you’re selling a house, you’ll need to move out of the property by the time of completion, which is usually around 12pm-1pm on a weekday, but can change depending on how big the property chain is, if there's any requirements from the buyer or seller and if there are any issues that delay the completion process.

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What Happens in the Completion Process?

      • Buyer's Conveyancing Solicitor receives mortgage from the mortgage lender and the balance to complete from the buyer a day before the completion date
      • Buyer's Conveyancing Solicitor sends the completion monies to the seller’s Conveyancing Solicitor on the day of completion
      • Once the completion monies have been received on the completion day, the seller releases keys to the buyer so they can move into their new home. The keys will only be released once the seller’s Conveyancing Solicitor has received the completion monies, which is usually around lunchtime. However, please note that Conveyancers and Solicitors have no control over the length of time taken to confirm completion until the seller’s Conveyancing Solicitor confirm receipt due to the banking system.

When Can I Have a Completion Date?

The completion date has to be agreed by all parties in the property transaction and/or chain. Once a date has been agreed, contracts will be exchanged which will make the completion date legally binding (in England or Wales). Until contracts are exchanged, any party can change their mind over the date.

Completion Day for New Build Homes

If you're buying a new build home, you may not necessarily be able to agree on a fixed date for completion, mainly because the house is still being built and a completion date can't be certain.

Who do You Get the Keys From?

Buyers normally collect keys to their new home from the estate agent after completion has been confirmed. However, you can sometimes collect keys directly from the seller. Before completion, you should speak to the estate agent to find out if they hold all the keys to the property. If not, confirm where the seller will be so you can get the keys after they have been released following receipt of completion funds.

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