How does completion day work?

pbhb

Tomorrow is the day I exchange/complete on the house, we are doing it same day as the property is already empty and I am a first time buyer. The solicitor and estate agent knows tomorrow is the day but how does it work? When will I know when it's all been done and arrange to get the keys? Do I just sit and wait for a call?
Also, is it normal to totally lack sleep at the moment? The last few nights (since transferring my money to the solicitor), I have barely slept a wink and I feel exhausted

p00hsticks

You should get a call from your solicitor at some point during the day (typically around midday) to confirm that completion has happened and you can collect the keys (from wherever has been agreed - estate agent, neighbour, vendors, left under flower pot) and move in.

Slithery

pbhb said:

When will I know when it's all been done and arrange to get the keys? Do I just sit and wait for a call?

Correct.  

eddddy

You should arrange with the seller how and where you'll collect the keys. Often the estate agent will be holding them - but maybe their offices are closed due to COVID.

When everything is ready tomorrow (assuming no last minute hold-ups occur), your solicitor will probably phone you to ask you if you're happy to exchange and complete - that will be your last chance to back out. And the seller's last chance to back out, as well.

But assuming you and the seller both confirm that you want to proceed, as there's no chain, the transaction might complete in a few minutes - and you can collect the keys from whoever/wherever you've agreed.

greatcrested

You'll get a call at some point, usually between about 10 AM and 5PM, telling you either Completion has happened and you can collect the keys and change the locks, or that it's been postponed or cancelled.

pbhb

Brilliant, thanks everyone. The estate agent is a 5-minute walk from the house so as long as the sellers don't pull out, I'm hoping it's just a case of them calling me up to organise to bring the keys around!

greatcrested

Have you confirmed the seller will use the EA to hand over the keys?

I doubt if the EA will 'bring the keys around."

pbhb

greatcrested said:

Have you confirmed the seller will use the EA to hand over the keys?

I doubt if the EA will 'bring the keys around."

I haven't dealt with the seller, only the EA. The EA are avoiding letting anyone in the estate agents, they currently have hold of the house keys. Everytime we have visited the house, the EA have brought the keys to the house and left us there and then pick the keys back up when we leave. It would surprise me if they suddenly changed this and asked us into the EA when the house is literally a short walk away and involves the hastle of us going into the office during covid?

greatcrested

Well until you ask, you won't know what the arrangement is to be!

For all you know the seller has retrieved the keys from the EA and given them to his solicitor. Or the neighbour. or....

You asked "How does completion day work?" and the answer is not by making assumptions but by confirming!

NinjaTune

Bearing in mind how they have operated during viewings it wouldn't surprise me if the EA meets you at the door of the property with the keys.

Call/email them and find out what the protocol is

gingercordial

pbhb said:

greatcrested said:

Have you confirmed the seller will use the EA to hand over the keys?

I doubt if the EA will 'bring the keys around."

I haven't dealt with the seller, only the EA. The EA are avoiding letting anyone in the estate agents, they currently have hold of the house keys. Everytime we have visited the house, the EA have brought the keys to the house and left us there and then pick the keys back up when we leave. It would surprise me if they suddenly changed this and asked us into the EA when the house is literally a short walk away and involves the hastle of us going into the office during covid?

Our EA was very distanced during the process (all viewings were done by the owner so we didn't really see the EA, though had met them on viewings pre-Covid) but for key collection we did go to their office.  It was otherwise closed but there was a member of staff in for this purpose, and he just came to the office door to give them to us.  It's possible they'll have more than one completion happening the same day and dealing with multiple key handovers so it might not be convenient for them to come to the house.