Completion Day. The Final Step to Your New Home
We handle residential conveyancing transactions on a daily basis, including freehold, leasehold and new build properties across the Fylde Coast.
Completion day is the final stage of the conveyancing process. It is the day on which the balance of the purchase money is transferred to the seller’s solicitor and the transaction legally completes.
Once the seller’s solicitor confirms receipt of the completion funds, the estate agent can usually release the keys to the buyer. The timing varies depending on the transaction, the banking process and whether the property forms part of a chain.
In a property chain, funds often need to move through several linked transactions before everyone can complete. This means buyers and sellers higher up the chain may complete later in the day.
At MJV Solicitors, we coordinate with the other solicitors and parties involved so that any issues affecting completion are identified and dealt with as quickly as possible.
Completion is the result of the legal work carried out throughout the transaction, including property searches, enquiries, mortgage arrangements and exchange of contracts.
For more information about the conveyancing process and how MJV Solicitors can help, read our complete guide to Residential Conveyancing.
