what happens on completion day

On completion day in a property purchase, the legal ownership transfers from the seller to the buyer, the purchase money is sent and received, and you get the keys and can move in.

What Happens on Completion Day? (UK Property)

Quick Scoop

Completion day is the final step of the home-buying process: money is transferred, legal ownership changes hands, and keys are released so you can move in.

What “Completion Day” Actually Is

• It happens after contracts have been exchanged, when the sale is already legally binding.

• On this day, the buyer’s solicitor sends the remaining purchase funds to the seller’s solicitor by same‑day bank transfer.

• Once the seller’s solicitor confirms receipt of the money, completion has legally taken place and ownership transfers to the buyer.

• From that moment, the buyer officially becomes the new legal owner and the seller’s ownership ends.

Think of it as the “finish line” of the whole house‑buying journey: search, offer, mortgage, survey, conveyancing, exchange… then completion.

Typical Timeline of the Day

Every transaction is different, but a common pattern in the UK looks like this:

1. Morning – Final checks
   • Buyer’s solicitor does last checks on documents, mortgage funds, and conditions.

 * The mortgage lender releases money to the buyer’s solicitor (once they have the Certificate of Title).

2. Late morning – Funds sent
   • Buyer’s solicitor sends the purchase funds to the seller’s solicitor via CHAPS or similar same‑day transfer.

 * This can happen any time in the morning, depending on bank and chain timings.

3. Midday to early afternoon – Legal completion
   • When the seller’s solicitor receives the money (often between about 12pm–2pm), completion is legally done.

 * In a chain, this can cascade: first buyer completes, then their buyer, and so on through the afternoon.

4. Early afternoon – Keys released and move‑in
   • Seller’s solicitor authorises the estate agent or developer to release keys.

 * Buyer collects the keys (usually from the estate agent or developer’s office) and can move in once the seller has vacated.

5. Later – Aftercare and admin
   • Solicitors complete any remaining registration and post‑completion paperwork with the Land Registry and lender.

Completion almost always happens on a working weekday because banks and solicitors need to transfer and confirm funds.

What Happens for Buyers vs Sellers

For Buyers

On completion day, as a buyer you will typically:

• Wait for confirmation from your solicitor that completion has happened (money received by the seller’s side).
• Get a call or message saying you can collect the keys.
• Collect keys from the estate agent or developer and check the property is empty, clean, and in the agreed condition.

• Start moving in once the seller has provided vacant possession.

Behind the scenes, your solicitor will:

• Receive your mortgage funds and any balance from you.
• Transfer all remaining purchase money to the seller’s solicitor.
• Ensure the seller’s mortgage is cleared so the property can be registered in your name.
• Handle registration at the Land Registry and send your lender the final documents.

For Sellers

For the seller, completion day is when you:

• Move out and hand over vacant possession (property empty, no belongings left unless agreed).
• Have your existing mortgage redeemed from the sale proceeds by your solicitor.

• Receive the remaining sale money (after mortgage redemption, fees, and any other secured debts are paid).

Your solicitor:

• Confirms receipt of funds from the buyer’s solicitor.
• Confirms completion and authorises key release.
• Deals with any final statements (completion statement, mortgage redemption statement, fees).

Chains, Delays, and What Can Go Wrong

Property chains (where several linked sales have to complete in order) can make completion day more complicated.

• Each buyer in the chain relies on receiving funds from their buyer before they can send money to their seller.

• Delays at any point (slow bank transfer, last‑minute mortgage issue, missing document) can shift everything later in the day.

• In a simple, no‑chain purchase, completion often happens late morning to around 1pm; in a long chain, it may be mid‑ or late afternoon before you get keys.

Common issues include:

• Bank transfer delays or cut‑off times.
• Final paperwork or signature problems.
• Last‑minute problems with removals or access.
• Someone in the chain not being ready to move out on time.

Most of these are solved the same day with good communication between solicitors, agents, lenders, and movers.

After Completion: Next Steps and Admin

Once you have the keys and have moved in, there are still a few practical tasks:

• Take meter readings (gas, electricity, water) and inform utilities of your move‑in date.
• Update your address with:
  • Electoral roll.
  • Banks and credit cards.
  • DVLA (driving licence and vehicle logbook).
  • Insurance policies, employer, schools, subscriptions, medical services.

• Check your insurance (buildings/contents) is active from completion.

Your solicitor will:

• Register your ownership with the Land Registry.
• Register your lender’s charge (if you have a mortgage).
• Send you or your lender copies of the title documents once registration is complete.

Mini Forum‑Style Q&A

Q: Do I need to be physically at the solicitor’s office on completion day?
Usually, no. Everything is done electronically between solicitors and banks; you just need to be contactable by phone/email.

Q: What time will I get my keys?
There’s no fixed time, but for a no‑chain purchase it’s often between about 11am and 1pm; in a chain, it can be later in the afternoon.

Q: Can completion be on a weekend?
Typically no, because banks and solicitors need to send and receive funds on a working day.

TL;DR: On completion day, solicitors move the money, ownership legally transfers once funds are received, the seller moves out, and you collect the keys and become the legal owner of the property.

Information gathered from public forums or data available on the internet and portrayed here.