What Is The Maximum Time Between Exchange And Completion?
The normal period between exchange and completion is one to four weeks. But when you’re agreeing your completion date and given that the transaction is legally binding once exchange has taken place, it’s important to get the period right. The one to four week gap between exchange and completion is usually to allow all parties in the chain to make moving arrangements. Normally, your solicitor will have made sure all is in place contractually before exchange takes please. If you are using a mortgage you are advised to have this in place before exchange too. But the period between exchange and completion can be longer, so long as the extended period is agreed to by both parties. Where the contract period is longer than the norm, this is usually referred to as a delayed completion.