Conveyancing, exchanging contracts and completion
During the home-buying process there are a few stages to complete before you move in.
Conveyancing
This is the process of transferring ownership of the home from one person to another. Your solicitor will start all the legal and administrative work, which includes arranging Stamp Duty, contacting the Land Registry and transferring money. At this point you’ll agree the terms of the sale, finalise the fixtures and fittings included, and set a date for exchanging contracts.
Exchanging
In England and Wales, the Exchange of Contracts is the last stage of the legal process (after this you can’t pull out of the sale or you’ll lose your deposit or face legal action). This is also when you usually set the completion date.
Completion
The final step! When you complete you can pick up the keys to your home and move in.