Completion

 
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This is the day when you collect the keys from the estate agent/seller and move in!

You need to transfer your completion monies the day before - this also gives you the best chance of completing earlier on the actual day.

Once your solicitor receives your mortgage funds (if applicable) and your completion monies, they can send the balance of the purchase price to the seller’s solicitors.

You normally collect the keys from the estate agent once they have been ‘verbally released’ by the seller’s solicitor. Make sure you get every key the seller has including gates, backdoor, shed, gas meter box and windows.

You should go straight to the property and confirm it is vacant, you have access to all areas and that there is no property left in it (other than the pre-agreed items in the seller’s Fittings & Contents form.

You should also check meter readings for gas and electricity and inform the suppliers of the change of ownership straight away (details of who these suppliers are can be found in the seller's Property Information form).

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Completion Day Checklist

Free Download Checklist for Completion Day

 

Although the banking system is normally instantaneous and, in most cases, the sellers want to complete straight away, it states in the contract that the seller has until 1 pm (sometimes 2 pm) to complete and release the keys to you.

If everything is in order and you are a first-time buyer, you'll most likely collect your keys anywhere from 9.30 am to 11.30 am, as you are the first in the chain.

Andrew's Top Tip for completion day

Property isn't vacant, or the seller's left stuff behind?

First of all, call your solicitor and send them pictures of the items. The solicitor will inform the seller's solicitor to come and collect their items. Don't throw any of the items away or cause damage to them. Store them safely until the seller comes to collect them - most likely, it is an honest mistake.

If the seller refuses to collect the items, then you should speak to your solicitor about starting legal proceedings to get the items removed. Always act reasonably and do not damage the items.

Andrew Boast FMAAT MIC is co-founder of SAM Conveyancing.

Conveyancing Process: What happens on completion day

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