What Happens on Completion Day? Here’s Everything You Need to Know
After months of paperwork, mortgage applications, surveys, and planning your move, completion day is finally here – It’s the most exciting milestone in the homebuying journey, but it’s also the stage many buyers know the least about!
If you’re wondering what happens on completion day, when you’ll get your keys, or what to expect when completing on a house, you’re not alone.
Here’s everything you need to know about house completion, including a completion day timeline, a practical completion day checklist, and what happens on completion day for a new build home…
What Is Completion Day?
Completion day is the day your new home officially becomes yours.
This is when your solicitor transfers the purchase money to the seller’s solicitor and legal ownership changes hands. Once the funds have been received, the estate agent or developer can release the keys.
For buyers, completion day marks the final stage of the property transaction and the moment you can begin enjoying your new home.
Exchange vs Completion: What’s the Difference?
Many buyers confuse exchange and completion, but they’re two separate stages.
Exchange of contracts is when the purchase becomes legally binding. At this point, both parties are committed to the sale.
Completion is when ownership officially transfers and you receive the keys.
There can be days, weeks, or sometimes only hours between exchange and house completion, depending on the agreement between buyer and seller.
What Happens on Completion Day?
Although every purchase is slightly different, the process usually follows the same steps:
- Your solicitor transfers the remaining funds.
- The seller’s solicitor confirms receipt.
- Completion is formally confirmed.
- The keys are released.
- You can collect your keys and access the property.
For most buyers, the longest part of the day is simply waiting for confirmation that the funds have arrived safely.
Completion Day Timeline
A typical completion day timeline looks something like this:
8am – 10am: Solicitors begin transferring funds.
10am – 1pm: The seller’s solicitor receives the payment and carries out final checks.
Around midday to 3pm: Completion is confirmed and ownership transfers.
Afternoon: Keys are released and buyers can move in. Times can vary depending on banking processes and whether multiple properties are involved in a chain.
What Happens on Completion Day for a New Build Home?
Once completion has taken place, there are still a few tasks to finish. Your solicitor will usually register your ownership with the Land Registry and arrange any Stamp Duty payments that are due.
You’ll also need to:
- Take meter readings
- Set up utility accounts
- Update your address
- Arrange broadband and other services
Then comes the exciting part – settling into your new home.
Your Next Chapter Starts Here
While there can be plenty happening behind the scenes, the principle is simple: once the funds have been transferred and completion is confirmed, your new home officially becomes yours.
Whether you’re a first-time buyer or purchasing a new build home, understanding what happens on completion day can make the experience feel far less daunting. At Sky-House, we’ll do everything we can to help make the process smooth and stress-free, so you can focus on starting your next chapter in a home you’ll love.
Still have questions? Check out our completion day FAQs below…
House completion FAQs
What Does Completion Mean When Buying a House?
Completion is the point when legal ownership of the property transfers from the seller to the buyer. Once completion has taken place, the home officially becomes yours.
What Time Do You Get Keys on Completion Day?
Most buyers receive their keys between late morning and mid-afternoon, once the seller’s solicitor has confirmed receipt of the funds.
What Happens on Completion Day in a Chain?
In a property chain, funds move from buyer to seller through each linked transaction. Completion can only happen once every transfer has been processed.
What Are the Advantages of Exchange and Completion on the Same Day?
Completing both stages on the same day can speed up the process and remove the gap between exchange and moving in. However, it leaves less time to prepare and can increase pressure if issues arise.
Can a Mortgage Offer Be Withdrawn on the Day of Completion?
It’s uncommon, but lenders can withdraw a mortgage offer if there has been a significant change in circumstances, such as a change in employment or financial status.
What Happens on Completion Day for a First-Time Buyer?
The process is the same as any other purchase. Your solicitor transfers the funds, completion is confirmed, and you can collect the keys to your first home.
Where Do You Collect Keys From on Completion Day?
Keys are usually collected from the estate agent. For some new build homes, like at Sky-House, the developer may arrange the handover directly.
Where Do You Collect Keys From on Completion Day?
Keys are usually collected from the estate agent. For some new build homes, like at Sky-House, the developer may arrange the handover directly.
Where Do You Collect Keys From on Completion Day?
Keys are usually collected from the estate agent. For some new build homes, like at Sky-House, the developer may arrange the handover directly.
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