Once a sale has been agreed, conveyancing solicitors or licensed conveyancers will be instructed by the buyer and seller. It is usual for the seller’s solicitor at this point to:
- Raise a contract for sale of the property
- Provide answers to what are called ‘pre contract enquiries’
- Offer proof of title (ownership)
- Set out a schedule for what is included in the sale
- Suggest a date when the sale will take place.
The buyer’s solicitor will act on the buyer’s behalf to:
- Make sure the title to the property is not faulty
- Check that the terms of the sale are reasonable and lawful
- Arrange for all monies to be made available both from the buyer (the deposit) and the buyer’s selected mortgage lender
Once the buyer’s solicitor is happy that all the legal issues have been resolved, the mortgage offer has been received along with the other monies required to pay the deposit, legal fees, and stamp duty, etc, then a date can be agreed to complete the sale. Once agreed, the buyer pays over their deposit and contracts can be “exchanged,” this is the legal point of no return. Completion is the date the seller will move out, the buyer will pay over all remaining monies for the purchase and collect the keys from the seller. This is legal completion
The completion date can be at any time and date agreed between all parties but given the need to arrange the transfer of utilities and to organise a moving company, etc, it’s normal for completion to be at least a week after the date that the contract is exchanged. Sometimes, solicitors agree to exchange contracts and complete on the same day. There is nothing wrong with this practice, but if the sale falls through at the last minute, before contracts have been exchanged, you could end up with removal lorries parked outside a home you do not own and with a great deal of expense incurred which you have no legal right to recover!
The benefit of exchanging contracts a couple of weeks before the completion date is that, if either party does not then stick to their obligations under the terms of the contract, they can be either sued by the other party and ask the courts to make the property sale proceed in accordance with the contract terms, or alternatively, sue for damages.
Usually, the seller would retain the buyer’s deposit and instruct his agent to remarket the property.
Next article: What does Completion Mean?
Recent posts
Homebuying reform to cut homebuying times by around four weeks, and save first-time buyers around £650, says the government.
Buying your first home is a huge milestone, but it can also be a complex process. There are several factors a first-time buyer should consider before making an offer on a property, including understanding the difference between leasehold and freehold and checking council tax bands.
We’ve detailed some questions you can ask your estate agent to help you make an informed decision.
Best UK Mortgage Rates this Week
Yesterday
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
Signs it's time to remortgage
3 days ago
Remortgaging means switching to a new mortgage deal. This will either be with your current lender or a new one.
Getting advice and moving to a new deal when the time is right can mean lower monthly mortgage payments, better interest rates, or releasing equity from your property.
Here are some signs it may be time to remortgage.
According to Nationwide Building Society’s latest House Price Index, house prices dropped 0.6% month on month in May – the first monthly decline this year.
Most Affordable UK Spots for First-Time Buyers
19 May 2026
Research from Lloyds identifies the most affordable areas in the UK for first-time buyers to be able to get onto the property ladder.
On Wednesday, 13th May, King Charles delivered his speech at the House of Lords, outlining the government’s plans for the upcoming year.
Here is a summary of the housing and energy/environment points.
From 18th May 2026, Halifax (part of Lloyds Banking Group) is launching a ‘£5k Deposit mortgage’ to help first-time buyers get onto the property ladder sooner.
More information
Trusted by
