What is exchange and completion?

This part is mainly down to the solicitors, but it is good to understand what is going on for yourself. Whether you are a first time buyer or just haven't done this for a long time.

Exchange

Exchange means the exchange of contracts.
The contract is essentially when your solicitor or conveyancer puts the transaction in writing. It will include:
o Buyer details
o Seller details
o Completion date
o The price the property was sold for
o What is included in the price,
Once the contract is signed and exchanged you and your buyer are legally bound to complete the sale.

Completion

One of the terms in the contract is the completion date, which is when ownership of the property is transferred from the seller to the buyer.

On the day of completion, both parties have to fulfil the terms of the contract. The seller must vacate the property and execute a deed of transferring ownership.

You must leave all the items agreed, and make sure you leave your property in a good condition.

The buyer will pick up the keys from your estate agent so they can then move in.

The time span between the two are not always the same and can vary based on circumstances however, you typically exchange 7- 28 days before completion.

#TheGuild #ChooseAGuildAgent #ProudGuildMember #SafeAsHouses @GuildProperty

Get in touch with us

First Name

Last Name

Your Email Address

Mobile Phone

Are you looking to

Buy

Sell

Rent

Let

Please enter message here

Please confirm that it is okay for us to contact you about this information as well as our products and services. By confirming, you also agree to the use of cookies to enhance your experience. (You will always have the right to unsubscribe or manage your cookie preferences at any point in the future.)

Confirm

Take a 'Virtual Tour' 'NEW PRICE' Grade II Listed Family House on 2.4 Acres with Lots of Character

A stunning Grade II listed four-bedroom character home in Starston, Norfolk, offering 2.4 acres of gardens, elegant reception rooms, a charming farmhouse kitchen with Aga, and beautiful period features throughout. With outbuildings, countryside views, and spacious living, this is rural family life at its finest.

CLICK HERE >

𝗛𝗼𝘄 𝗕𝗿𝗶𝘁𝗮𝗶𝗻 𝗟𝗶𝘃𝗲𝘀...

National housing figures give us a broad view, but the real story lies much closer to home. The mix of property types in a town shapes its market, its buyers and its pace. So how does Attleborough compare, and what does that mean for you? Read on to find out.

CLICK HERE >

What if your biggest pay rise never came from your employer?

Over the past 25 years, UK house prices have risen significantly, quietly building wealth for homeowners along the way. While markets move in cycles, the long-term trend remains clear. For many households, their home has become one of the most consistent and powerful drivers of personal wealth.

CLICK HERE >

Landlords: What Must Be Ready Before 1 May

April is the final window for landlords in England to prepare for the first phase of the Renters’ Rights Act. With the new tenancy regime starting on 1 May 2026, now is the time to review paperwork, processes and whether self-management still feels realistic.

CLICK HERE >