Essential Steps to Prepare for Completion Day

Congratulations - you're almost there!

Completion day is a huge milestone in the journey of buying or selling a home. It’s the moment when ownership officially changes hands. For buyers, it marks the end of the search and the beginning of a new chapter full of memories to come. For sellers, it’s the successful close of one story and the start of something new.

While the day can feel exciting (and a little nerve-wracking), a bit of preparation can make everything go smoothly. In this post, we’ll walk through what to expect and how to get ready for the big day.

What Is Completion Day?

Completion day is when the buyer pays the remaining balance of the purchase price and finally gets the keys. It’s the finish line after weeks (or months) of forms, negotiations, and waiting.

For buyers, it’s the start of life in a new home. For sellers, it’s confirmation that the sale is complete. Before that day arrives, a few key steps can help things go off without a hitch.

The Exchange of Contracts

Before completion day comes the exchange of contracts, one of the most important milestones in the conveyancing process. This is when both the buyer and seller sign identical contracts and formally agree to the sale. At this point, the transaction becomes legally binding, and neither party can withdraw without facing financial penalties.

During the exchange, a completion date is also agreed upon, usually a week or two later, giving everyone time to prepare for moving day. By the time exchange has taken place, you can breathe a little easier knowing the deal is secure and completion day is officially on the horizon!

Confirm Your Finances

First things first... double-check your finances.

If you’re buying, make sure:

• Your mortgage offer is finalised and ready.

• Your solicitor has all the remaining funds as soon as possible (this will be on your completion statement!).

If you’re selling, ensure:

• Any outstanding mortgage or charges on the property will be settled.

• You've checked your completion statement and you're going to be receiving the right amount of money (don't forget estate agent fees will be deducted from the sale proceeds).

Do a Final Walkthrough

If you’re a buyer, schedule a last visit to the property before completion. This gives you a chance to confirm that everything’s in the expected condition and any agreed repairs are done.

If you’re a seller, make sure the property is spotless and welcoming. A quick tidy-up can make all the difference!

Sort Out Utilities and Services

Before moving in, get your utilities lined up - electricity, gas, water, broadband, and so on. Notify providers ahead of time to avoid any service delays. Don't forget to get buildings insurance!

If you’re selling, remember to take final meter readings on the morning of completion and let utility companies know you’re moving out so the new owners can settle in seamlessly.

Plan for Moving Day

Moving day tends to be busy, so plan ahead:

• Make a checklist of everything you’ll need to do.

• Label boxes clearly (you’ll thank yourself later!).

• Confirm your removal company and timing.

• Update your address with banks, insurers, and subscriptions.

  
  

If you’re selling, be ready to vacate your property and hand over the keys on time with all your personal items removed and keys ready to go.

What Happens on Completion Day

On the big day, your conveyancer will transfer the money to the seller’s solicitor. Once the funds have cleared, buyers can collect the keys, usually from the estate agent.

Sellers should make sure the property is empty before this point to avoid any last-minute complications. Knowing the process in advance helps reduce stress and keeps the day running smoothly.

Potential Issues on Completion Day

While most completions go off without a hitch, a few hiccups can occasionally occur. Being aware of them helps you stay calm and prepared:

• Bank transfer delays: Funds sometimes take longer to clear, especially if multiple banks are involved. This can push back key handover times.

• Chain complications: If your sale or purchase is part of a property chain, one delayed transfer can affect everyone. Keeping in close contact with your solicitor can help minimise disruption.

• Late removals: Occasionally, sellers may not vacate the property on time. Clear communication about moving schedules helps avoid overlap or awkward waiting.

• Last-minute paperwork checks: Missing signatures or final confirmations can hold things up - another reason to review documents early.

If any delays happen, don’t panic! Your conveyancer will be working behind the scenes to resolve the issue as quickly as possible. Most problems are minor and get sorted the same day.

Celebrate Your New Home

Once everything’s done, take a moment to celebrate!

For buyers, this is the start of new memories in your home sweet home. Maybe host a small housewarming or enjoy a quiet first night in.

For sellers, it’s time to reflect on the memories you’ve made and look forward to what’s next.

Buying or selling a home is no small feat, so give yourself some credit. With preparation, good communication, and a little patience, completion day can be a smooth and even joyful experience.

Here’s to your next chapter and all the exciting things ahead! 🥂