Completion takes place after Exchange of Contracts. In simple terms, the Buyer's solicitor hands over the money and the Seller's solicitor hands over the documents that transfer the Title of the land. The Buyer can then move in. In practice, it is slightly more complex. The Seller's solicitor prepares a Completion Statement and arranges for the Deeds, the Transfer Document and the keys to be handed over. The Buyer's solicitor arranges for the Mortgage Advance Cheque to be ready. Also the following may be dealt with...
- Investigation and proof of title.
- Prepare and sign the Transfer
- Further searches
- Making sure all the money is available at Completion