How quickly after exchange can you complete?
Asked by: Mateo Nikolaus Sr. | Last update: February 9, 2026Score: 4.2/5 (48 votes)
You can typically complete a property purchase 1-2 weeks after exchanging contracts, but it can range from the same day to several months, depending on the agreed-upon date, lender requirements (often 5 days), and if you're in a property chain. While same-day completion is possible and sometimes done in chain-free situations, most prefer a short gap for booking removals and final arrangements, with 1-4 weeks being common to coordinate with everyone involved.
Can you complete 3 days after exchange?
Completion typically happens 7–28 days after exchange, usually late morning or early afternoon. Delays can occur if funds arrive late or if you're part of a long chain.
How quickly is it from exchange to completion?
How long between exchange and completion? Completion usually takes place 1-2 weeks after the exchange of contracts, but it can take up to a few months. Longer delays can occur if: Someone in the chain is renting and needs to give notice to terminate their tenancy.
Can completion be delayed after exchange?
Delayed completion occurs when the buyer and seller have exchanged contracts with an agreed completion date, but the final stage of the property transaction doesn't happen on that agreed date. This breach of contract can affect everyone in the chain.
What happens if I exchange but can't complete?
Exchange of contracts is a crucial part of the conveyancing process whereby the buyer and seller contractually agree to complete the transfer of the title between each other on a future date called completion. Buyer – If you don't make the completion, you will lose your deposit and could be at risk of being sued.
Explaining The Process Of Exchange Of Contracts
Is it risky to exchange and complete on the same day?
Exchange and completion can take place on the same day, and this is called a "simultaneous exchange and completion". This is much riskier to the parties in the chain as there is no guaranteed commitment from a seller and buyer until the very last moment.
How long can you exchange contracts without a completion date?
One or two weeks between exchange and completion is common, as this gives both the buyer and seller time to organise removals and get their things together ready to move. However, it's possible to exchange and complete in a shorter space of time, or longer, if both sides agree.
Who decides the completion date?
Who decides on the completion date? The completion day is agreed in advance between the seller and the buyer. It's normally on a weekday, because the money transfer and confirmation need to be done by a conveyancing solicitor, and you'll need to pick the keys up from the estate agent.
How long is too long for a home to be on the market?
A house is generally considered "stale" on the market after 60 to 90 days, though this varies by local market; in fast markets, 30 days might be too long, while in slower markets, 90+ days is common, but beyond 3-5 weeks is often seen as slow, prompting reevaluation of price or condition due to buyer perception that "something is wrong".
Can a seller just not respond to an offer?
Does a seller have to respond to an offer? Contrary to the belief of some buyers, the seller is not legally required to respond to any offer. If your offer doesn't meet their standards, or if they receive better offers, they may choose to ignore or reject your offer.
What is the hardest month to sell a house?
The hardest months to sell a house are typically November, December, and January, during the winter holiday season, due to fewer active buyers, cold weather, and holiday distractions. Homes listed in these months often take longer to sell and command lower premiums compared to spring and summer listings, with December often cited as the slowest.
What is the quickest a house purchase can go through?
Regulated cash buying companies can typically complete the entire sale process in as little as 7 to 14 days. Once an offer is accepted, they proceed directly to contract exchange and completion without waiting on financing or third-party approvals.
What do solicitors do when they exchange contracts?
During the exchange of contracts, the solicitor or conveyancer from each side will read out the contract over the phone in a recorded conversation. They will make sure the contracts are the same and then post them to each other. Once contracts have been exchanged you're legally bound to buy the property.
What is the quickest time between exchange and completion?
You can expect to wait between 1 day and 2 weeks between exchange and completion. However, in some circumstances, buyers and sellers agree to exchange and complete on the same day or wait longer – sometimes even months. Either way, if you have just exchanged contracts (or about to) on a house sale, congratulations!
What is a red flag in a mortgage?
Risky spending habits
But frequent and large transactions to betting shops or gambling sites can be a major red flag. It suggests risky spending habits, which may raise concerns on whether you'll prioritise mortgage repayments.
What is gazumping in property buying?
Put simply, gazumping is when a seller accepts a higher offer on their property, despite having already verbally agreed to another offer. They are able to do this because verbal agreements are not legally binding: a contract needs to be in writing before it can be enforced.
What is the 3 3 3 rule in real estate?
The "3-3-3 Rule" in real estate isn't one single rule but refers to different guidelines, most commonly the 30/30/3 Rule for Buyers (30% down, 30% income for mortgage, total price under 3x income) for financial safety, or for agents, a focus on three connection activities (call, note, resource) to build client relationships and referrals. Other variations include saving 3 months of emergency funds, making 3 property evaluations, and ensuring 3x annual income for land purchases.
What devalues a house the most?
The biggest factors that devalue a house are deferred major maintenance (roof, foundation, systems), poor curb appeal, outdated kitchens/baths, and major personalization or bad renovations (like removing a bedroom or adding a pool in the wrong climate), alongside location issues and legal/zoning problems, all creating high perceived costs and effort for buyers.
What salary to afford a $400,000 house?
To afford a $400,000 house, you generally need an annual income between $100,000 to $135,000, but this varies significantly with interest rates, down payment, and debt, with a common guideline being that your total housing payment (PITI) should be around 28% of your gross income, often requiring a salary in the low six figures. A higher income is needed with less down payment (like 5%) or higher interest rates, while lower income might work with a large down payment and minimal other debts, say $100k to $112k+.
Is it normal to exchange and complete on the same day?
Exchange and completion on the same day is generally only an option if there is no chain involved. A seller is more likely to agree to this if the property is empty.
Does my house need to be tidy for valuation?
Declutter and Clean
Make sure your home is clean because an environment of cleanliness and orderliness shows that the property has been taken care of - which is important when it comes to home valuation.
Can the seller back out on completion day?
No contingencies: If the contract doesn't include exit clauses and the buyer is fulfilling their obligations, the seller generally cannot cancel without breaching the agreement. Higher offers: Even if a better offer comes in after the contract is signed, the seller is bound to the original deal.
How long after offer is exchange normal?
Your purchase offer will include a date by which the deal needs to be completed. In most cases this is within 30 to 60 days after the offer is accepted.
What are common issues during exchange?
Exchange errors can manifest in various forms, such as mailbox corruption, inaccessible data, or database issues that prevent users from retrieving emails. These errors often occur due to server crashes, sudden shutdowns, or issues related to network connectivity.
What is the 6 month rule for property?
The "6-month rule" in property generally refers to a guideline from mortgage lenders (especially in the UK) requiring you to own a property for at least six months before taking out a new mortgage or refinancing, preventing quick flips, fraud, and ensuring financial stability, with the period starting from land registry registration, not just purchase. It helps lenders control risks like "day one remortgages" (cash purchase followed by immediate mortgage application) and ensure stable home residency, affecting cash-out refinances and property sales.