Completion day? Good news – you’re one step away from your new home. Find everything you need to know about completion day in our guide, including what the process entails and how long it takes. We’ll also include a handy checklist to help you get organised.
Key Takeaways
Completion Day Overview:
- Completion day is the final step in the homebuying process.
- Property ownership transfers from the seller to the buyer, who receives the keys.
Steps on Completion Day:
- Buyer’s solicitor ensures mortgage conditions are met and requests funds from the lender.
- Both solicitors create completion statements for all payments made and received.
- Final checks are conducted, and the buyer’s solicitor transfers money to the seller.
- Seller’s solicitor confirms receipt and releases keys to the buyer.
Timeline:
- Completion day typically occurs 7 to 28 days after exchanging contracts.
What is completion day?
Completion day is the last step of the homebuying process. The property ownership is transferred from the seller to the buyer, who also receives the keys.
What happens on completion day?
Your solicitor will confirm the transaction and deal with the paperwork and deeds. If you’re the seller, you’ll need to sign off the mortgage completion statements.
On completion day, the following happens:
- The buyer’s solicitor will ensure that all mortgage conditions are met and request the money from the lender
- Both solicitors will create completion statements of all payments made and received, including any outstanding invoices
- Both solicitors will make final checks, with the buyer’s solicitor transferring the money to the seller
- The seller’s solicitor will confirm receipt and release the keys to the buyer
- The buyer will be able to move in
How long does completion day take?
Completion day in advance usually occurs between 7 and 28 days after exchanging contracts.
Completion day checklist
Completion day can be stressful, so we’re here to help. Our checklist includes tips on getting organised to ensure a hassle-free move.
- Plan. While you likely won’t move into your new home until completion day, you can start emptying your current one. Our moving day top tips and advice can help you keep track of everything.
- Be communicative. Communication is key, especially near completion day. Your solicitor or conveyancer may need to contact you to finalise the sale, so ensure your phone is with you – loud and charged!
- Have your funds in order. Have your funds in one place, ready to go once it’s time. This will help speed up the process.
- Be prepared. Keep all relevant paperwork at hand and confirm moving in and out times with your landlord and solicitor.
If you’re looking to buy your new home, you’ve come to the right place. Our Barratt homes are energy-efficient and modern, offering flexible living space. Discover unique offers to help you move, including Deposit Unlock and Parent Power.
Call our Sales Advisers today to begin your homebuying journey.
