Completion day explained: What happens and when
Completion day is the final step in a property transaction, the point at which legal ownership transfers from seller to buyer, funds move between solicitors, and keys are handed over. For both buyers and sellers, it is the day the process has been building toward. Understanding what actually happens during those hours, and what your role is on the day, removes much of the anxiety that surrounds it.
When completion happens
Completion takes place on the date agreed at exchange of contracts. Exchange and completion can happen on the same day in some transactions, but more commonly there is a gap of one to four weeks between them. The completion date is fixed at exchange and is legally binding on both parties from that point. Changing the completion date after exchange is possible but requires the agreement of everyone in the chain and is generally avoided where possible.
Completions happen on weekdays only. Solicitors, banks, and estate agents all need to be working to process the transactions involved. Fridays are the most popular completion day as they give buyers the weekend to begin settling in, though this also means Friday afternoons can be the busiest and most stressful time for solicitors processing transfers.
What happens on the day: The sequence of events
According to Zoopla's guide to completion day, the morning begins with the buyer's solicitor requesting the mortgage funds from the buyer's lender. Those funds are transferred to the seller's solicitor. The seller's solicitor creates the completion statement, confirms all payments are in order, and notifies the estate agent that completion has taken place. The estate agent then releases the keys to the buyer.
This sequence takes time. It is entirely normal for buyers to be waiting for confirmation well into the afternoon, even on a day when everything is going smoothly. Solicitors across a chain are all managing their own piece of the process simultaneously, and the funds and confirmations must move through each link before anyone at the end of the chain can receive their keys.
What sellers need to do
Sellers should vacate the property by the time agreed in the contract. In most cases this is 1pm, though the specific time varies and is always set out in the contract itself. Do not hand the keys directly to the buyer before your solicitor has confirmed that the funds have cleared. The keys go to the estate agent, who holds them until confirmation comes through. Once your solicitor confirms completion, the sale is done and the property is no longer yours.
Make sure the property is cleared of all your belongings and left clean and tidy. Return all sets of keys, including any spares that were cut during the tenancy or ownership. Provide meter readings and leave any documents, manuals, or certificates that relate to the property, such as boiler service records, alarm codes, or window guarantees.
What buyers need to do
Buyers should be ready to collect the keys from the estate agent as soon as confirmation comes through. Have a plan for how you will receive the call, as it can arrive at any point during the day. If you are using a removal company, confirm the logistics in advance and make sure they are aware that the exact time of key release can vary.
Once you have the keys, the property is yours. You can move your belongings in, change the locks if you choose to, and begin the process of making the home your own.
If you are in a chain
In a chain, all properties complete on the same day. The funds and confirmations travel along the chain before everyone can proceed. This is why completion day can sometimes feel like a long wait, particularly for those in the middle or at the top of a chain. Good communication with your solicitor throughout the day is the most practical way to stay informed.
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