How To Prepare For Your Completion Day

Buying or selling a home is exciting, it is also stressful. Completion Day is the final step in the process of buying or selling your home. It’s the day when all the legal and financial aspects of the home are completed. It is the day the buyer can move into their new home. However, while it may be the end of the process, there are still key aspects of completion day that you need to prepare for.

For example, on the morning of completion day the buyer’s conveyancing solicitor will transfer the remaining balance of the purchase price to the seller’s conveyancing solicitor. It is important that you know funds are ready for this transfer of funds to take place.

Once the funds have been received the seller’s conveyancing solicitor will confirm the completion. The estate agent can then release the keys to the estate agent. Make sure as the seller that the keys are at the estate agents in plenty of time.

The final legal steps will also be completed. This includes the buyer’s conveyancer registering the new ownership with the Land Registry. This ensures that the property title is transferred. Any outstanding mortgages will be settled on this day for the property too.

You need to prepare for some completion day flexibility. The completion date will be agreed upon when contracts are exchanged. There tends to be a period of one to four weeks between the exchange of contracts and completion day. This gives both parties enough to time to prepare for completion day.

If you are in part of a property chain all completion of all linked transactions must happen simultaneously. This means that everyone in the chain must complete on the same day. While this can add some complexity, and stress, to the house buying and selling process, our conveyancers in Peterborough can help you prepare for your completion day so potential delays are avoided.

Our conveyancing team here at Burgh Thorpe Solicitors are here to make your completion day as stress free as possible. Our Peterborough conveyancers will ensure that everything runs as smoothly as it can, whether you are the buyer or seller. We are here to take away the stress and worry, while you can enjoy moving into your new home, or completing the sale of your last home.