The completion day is agreed in advance between the seller and the buyer but usually this date is within 7 and 28 days after exchange of contracts.

On completion day, the money is transferred from buyer to seller and the buyer can pick up the keys to their new property.

Before the keys can be collected however, there are a number of things that a solicitor or licensed conveyancer will need to carry out:

- The buyer’s solicitor will ensure that the conditions of the mortgage have been satisfied (if purchasing with a mortgage) and request that the monies are made available in time for completion day.

- Request a redemption certificate if the buyer has a prior mortgage.

- Solicitors on both sides will agree a completion statement which specifies all costs due to be exchanged on completion day.

- The buyer will transfer the completion money to their solicitor who will transfer it to the seller’s solicitor and once the money has been received and completion has been confirmed, the buyer can pick up the keys.

If you would like any further information or advice in relation to buying or selling a property, please contact us on 01384 410 410 or send an email to residentialconveyancing@georgegreen.co.uk. You can also get a free quote by using our conveyancing quote tool on our website.