Exchange and Completion: Costs, Cash and Timing

What is exchange?

Exchange of contracts is the point at which the transaction normally becomes legally binding. The completion date is agreed and buyers may need to provide deposit funds through their conveyancer.

What happens at completion?

Your conveyancer transfers the purchase funds, the seller's side confirms receipt and keys are released. Tax and registration are then handled through the legal process as applicable.

Cash planning

Do not budget only for the deposit. Legal fees, property tax, survey, mortgage charges, removals and a contingency can all fall around the same period. MoveBudget's whole-move calculator is designed to show that combined funding requirement.