Completion is the final step in the conveyancing process that typically occurs 7-28 days after exchanging contracts. On completion day, the money is transferred from the buyer to the seller and the official transfer of the property takes place.
When the lender receives the Certificate of Title from your solicitor, they will transfer the money over to them. The Certificate of Title is a document that gives a detailed history of the home’s ownership, including a comprehensive legal description of the property.
Once the final checks are complete, and the money is sent to your solicitor, they will then pass on the funds to the seller’s solicitor. When the solicitor receives the money and dates the legal transfer deed, completion has formally taken place. At this point, you are free to pick up the keys to your new home.
