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What happens on completion day?
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Help1234
Posts: 464 Forumite

Hi,
I have exchanged and wondering what happens on completion day? I cannot really remember from when I bought. Will we be notified by our solicitors we have completed and wait for this before handing over keys? Our buyer is trying to arrange what time to collect the keys but can we arrange a time or do we have to wait?
I have exchanged and wondering what happens on completion day? I cannot really remember from when I bought. Will we be notified by our solicitors we have completed and wait for this before handing over keys? Our buyer is trying to arrange what time to collect the keys but can we arrange a time or do we have to wait?
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The people who know that completion has taken place are usually the vendor's solicitors as they receive the money. I recently completed on the purchase of a property and my solicitor e-mailed / phoned me to let me know, I was then called by the estate agent to let me know I could collect the keys, I presume they had been phoned by the vendor's solicitor.
The answer is that you have to wait until the money is in the vendor's solicitor's account before the keys can be handed over0 -
Completion happens when the money arrives, not at some pre-arranged time. The contract usually stipulates a time (12 noon? 2.00pm?) but in practice the money might arrive sooner, or later.When it arrives, the buyer's solicitor will confirm receipt and the seller can then release the keys from wherever they are - often the EA has them, but it could be a neighbour, the seller themselves, or under that stone dwarf in the front garden.So the buyer'ssolicitor will inform his client (buyer) that they can now collect, and the seller will be told to release.Until then, the buyer, and their removal van, might have to just sit outside the house waiting......0
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OK I’m the vendor so that’s good to know!0
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Help1234 said:OK I’m the vendor so that’s good to know!
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House purchased during lockdown had keys in one flowerpot under another flowerpot ... much antics finding exactly which flowerpot they were referring to1
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