Why does completion have to take place on a working day?

When the purchase monies are paid to the seller's lawyer, you and any lender will expect a vacant property in return on the same day.  At the present time the banks only transfer monies electronically on a weekday, therefore completion cannot take place at weekend.

How will I obtain my keys to my new property?

Normally, the keys will be handed to the estate agent by the seller and these will be released to you once the seller's lawyer has received all monies for the property.  Sometimes the seller is unable to leave the keys with the estate agent and may wish to hand them to you.  It is important that you find out how the keys are to be handed over.  There is nothing worse than waiting outside a new house with a removal van and not being able to get in.

Should I have a survey carried out?

The phrase "buyer beware" applies to purchasing a property.  If you find anything wrong with a property once exchange of contracts has taken place, the seller is not liable and you will have to pay for any necessary repairs.

If you have a mortgage, a valuer will inspect the property, on behalf of the lender. It is not advisable to rely upon the valuation report alone because the condition of the property is not considered in detail. However, it is often possible, for an extra fee, to arrange for the same valuer to carry out a more detailed inspection called a "Home Buyers Report and Survey" or even a full structural survey, if the property is very old and needs extensive repairs or alterations.