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Interval between exchange and completion of property transactions

Interval between exchange and completion of property transactionsThe period between exchange and completion ideally lasts for around four weeks. However, in most cases, clients want the contract to be completed as soon as possible after exchange. And in some cases, completion takes place simultaneously with the exchange. In such instances, conveyancing lawyers need to plan the pre-completion tasks carefully and ensure that all matters are accomplished within the given timeframe. Some of the pre-completion steps shall be brought forward and completed during the pre-contract stage itself. Searches, if any remaining to be conducted should be done as close to the date of actual completion as possible, to take advantage of the protection period given to the buyer.  But in practice, the transfer deed is often prepared as soon as the contents of the contract have been agreed upon. Photo courtesy: Dennis Jarvis

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