What happens on completion day?
Can you exchange contracts without a completion day?
The simple answer is no. The completion day needs to be written into the contracts. The date is agreed by both parties before the exchange takes place.
Who decides the completion date?
Before a date can be agreed, the conveyancer will need to:
What happens after completion day?
Pay any stamp duty
Once the sale is complete, the buyer has 14 days to pay any stamp duty. Your conveyancer will work out how much this is and help you pay it to the HMRC.
Land Registry
After stamp duty is sorted, your conveyancer is able to register the property with Land Registry.
This confirms the buyer as the new owner of the home. The application happens within 30 days (it can take months for the Land Registry to register the property).
Move in!
At this point, you can now move in! Unbox your stuff, decorate and turn your house into a home.
The legal process: conveyancing timeline
For help with money issues, try MoneyHelper.