1. Transfer funds on the morning before the completion date. The buyer’s lawyer transfers the balance of the purchase to the seller’s lawyer. To understand the management of funds, learn more about the work that a conveyancing lawyer does for a buyer. For Conveyancing Solicitors Gloucester, visit https://deeandgriffin.co.uk/personal-legal-services/conveyancing/gloucester
2. Exchange of Keys – Once the funds have been received, the solicitor for the seller confirms that the sale is complete, and the agent releases the keys to the buyer. What a conveyancer will do for the seller describes their responsibilities.
3. Final legal steps: Registering the new ownership at the Land Registry, the buyer’s solicitor ensures the transfer of the property title. The buyer’s solicitor settles any outstanding mortgages.
4. Flexibility in Completion Date: When contracts are exchanged, the completion date is decided. There is usually a period of time between the exchange and the completion date, allowing both parties to prepare. If you want to know how to do this correctly, research when is the best time to instruct a conveyancing lawyer.
5. Chain impact: If your chain includes you, all transactions that are linked must be completed simultaneously. It can be complicated if everyone in the property chain has to complete on the same date. There are some challenges that can affect the completion date of residential conveyancing. Find out what these are so you can be prepared for anything that might crop up. Working with a trusted conveyancer can help the process go smoothly.
6. Moving day logistics: The buyer must arrange moving or removal services on the completion date. You should be prepared to leave the property as soon as possible, since the sale is usually completed by midday and the buyer will have the keys.

Possible issues on completion day:

• Delays in Transfers – Bank delays may sometimes delay the transfer, which can cause the moving time to be extended.
• Failed completion – In rare cases the buyer may not be able to transfer funds. This can have legal and financial implications for the buyer. It is important to know the risks of this and how to avoid them to avoid these possible complications.

Last Tips for Completion Day

• Keep your estate agent and solicitor’s contact information handy just in case.
• Be ready to move out quickly, as the completion of most projects is between 12pm and 2pm so you’ll want to be prepared.