What time do you get keys on completion day in Scotland?

The conclusion is getting close. The date for concluding the transfer of ownership of your home has been established, and contracts have been exchanged. But what precisely happens on the day of completion? What must you do if you are the vendor or the buyer? Continue reading to learn how the process of purchasing or selling a property truly ends.

When does the day of completion occur?

The day you successfully transfer ownership of a home or other property is known as “completion day.” It is the last step in the purchasing or selling of a property, and traditionally, on this day, the seller hands over the keys to the buyer or the buyer picks up the keys and moves in, depending on which party is selling the property.

What happens on completion day?

The paperwork from the solicitors, the money transfer, and the release of the keys are the three primary components of completion day.

Legal paperwork: The attorneys for both parties do their last reviews and affix their signatures to the pertinent documents. The buyer’s attorney confirms that all mortgage requirements have been met before asking the mortgage lender for the agreed-upon sum. If there is still a mortgage on the property that needs to be paid off, the seller’s attorney requests a Redemption Certificate.

If everything is in order, the buyer’s attorney authorizes the transfer of the agreed-upon sale price from the buyer’s bank account to the seller’s. The seller’s attorney ensures that all applicable debts and fees are paid once this is received. 

This comprises their fees, the estate agent’s costs, any applicable additional fees, stamp duty, and the seller’s outstanding mortgage.

Release of keys: After the funds have been received correctly, completion is verified with the real estate agency. The new owner can then lawfully occupy their property after receiving the keys from them.

Do I get keys on completion date?

The keys are typically handed over to the new owner by the estate agents engaged in the sale on the day of completion. The prior owner may occasionally hand the keys over to the new owner.

When do you receive your keys on completion day?

The desired time to hand over the keys to the new owner is often midday on the day of completion. If the exchange is intricate or the property chain is particularly long, it can take longer.

Who can collect keys on completion day?

Typically, the keys to the house are handed over to the new owners on closing day. It is permitted to have someone else, such as a guardian, legal representative, or someone with Lasting Power of Attorney, collect the keys on your behalf.

You must inform your solicitor, the seller, and the estate agent of your desires if you are the named buyer but would want someone else to pick up the keys on your behalf.

How long does it take for money to transfer on completion day?

On the day of completion, the funds for the property purchase should be transferable within two hours of the request. This is the time it takes to transfer money between UK bank accounts.

When the contracts are exchanged, the mortgage lender is asked for the money if the buyer requires one. So, on the day of completion, they ought to be prepared to transfer.

How soon after completion do you pay mortgage?

Your solicitor will pay off the remaining balance once you receive monies from the buyer on completion day if you are selling the house and have a mortgage. This plays a significant role in the completion day procedure.

Can I finish and exchange on the same day?

Contracts can be exchanged and finished on the same day. This is turning out to be a common choice for cash buyers who need to finish the transaction quickly.

However, when a mortgage request has been made at the time of contract signing, the majority of mortgage lenders require at least five working days to approve and release cash. Therefore, it might not be possible to exchange and finalise on the same day if a mortgage is required to fund the acquisition.

What can go wrong on completion day?

On the day of completion, a lot of things could go wrong. Most issues are the result of human mistakes. Mishandling of any of the checks, paperwork, or confirmation of contract requirements could cause the entire procedure to be delayed by a few hours to several days.

The bank’s tardy payment action is another frequent issue. If everything is going as planned, this shouldn’t happen, however, the bank could be experiencing maintenance, security difficulties, etc. Late payments can impede progress, particularly if the property completion represents a link in a chain.

Along with the actual transfer of ownership procedure, you could also run into issues with the removal component. If your movers are unreliable (late, absent, using the incorrect mode of transportation, etc.), then this causes massive head pain.

What’s my role on completion day?

You can spend a lot of time waiting for the good news that everything has gone according to plan because the solicitors on both sides of the transaction are responsible for doing the bulk of the work on completion day. Of course, you’ll likely be busy organising removals, cleaning the property, and wrapping up any loose ends with the house before moving out for sellers (and indeed for buyers if you’re leaving another property).

All that remains is to wait for news from the solicitor that the sale is complete once the removal team has left and the house has been cleaned and made ready for the new owners. You can now deliver the keys to the lawyer and, hopefully, make your deal there.

How can I make completion day easier?

By implementing the following, the completion day will be simpler:

Keep everyone updated: Talk to your lawyer and the real estate agents. Inform them in advance if there are any potential issues or uncertainties. Ask any questions you may have well in advance of the completion date.
Check your removals scenario twice: If you have items to relocate, make sure the removals business has the right address, arrival times, and personnel/vehicles to bring.
Organize your paperwork: If you are the buyer, be sure your finances are exactly where they should be. Make sure you and your lawyer have access to everything needed for the title deeds if you are the seller. Once more, if you’re unsure, consult the experts. In the event of an issue, it is good to find someone soon.


When it comes to the completion of a property sale, the timing and coordination of various factors are crucial. Once the exchange of contracts has taken place and the conveyancer has confirmed the availability of mortgage funds, the target time for completion is typically set. If the transaction is part of a property chain, where multiple parties are involved, it’s essential for everyone to transfer funds and secure their mortgage on time so that completion can happen smoothly. On the morning of completion, usually around 10 am, the seller’s solicitor will collect the keys and vacate the property, allowing the buyer to collect the keys and move in. However, there are several things that can go wrong and delay the process, such as issues with the banking system or delays in transferring funds. In some cases, the completion time may be pushed back until around 4 pm. Additionally, if it’s a new build property, the completion time may vary, and estate agent fees may be applicable. The solicitors involved will agree on the details and ensure that all parties are aware of their responsibilities. It’s important for buyers and sellers to communicate with their solicitors and be prepared for any potential delays that may arise. Furthermore, the buyer may need to wait until the next working day to notify gas and electricity suppliers and arrange for the transfer of services. It’s also worth noting that in certain situations, the seller may be liable for the cost of any outstanding utility bills or repairs. Overall, completing a property sale and moving in requires careful coordination and cooperation between all parties involved.

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