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Completion in Property Transactions for SQE1

Part of our SQE1 Property Practice guide → View the full SQE1 Property Practice guide

10 Apr 2026

Completion is the moment legal ownership passes and the buyer receives the keys. SQE1 tests what happens on completion day, the remedies available if completion

Property Practice > Completion in Property Transactions

What is Completion in Property Transactions?

Candidates often lose marks on SQE1 by misunderstanding the moment when legal ownership passes or what happens if completion fails to take place — mistakes questions may turn on in scenario questions.

Key Principles for SQE1

When tackling Completion in Property Transactions as part of Property Practice, remember:

  • Know the procedural steps and their correct sequence
  • Understand the legal effect and consequences of each stage
  • Be familiar with the standard documentation and processes
  • Apply the rules to practical client scenarios

The completion stage follows both the exchange of contracts and the pre-completion steps, so you need to understand the full timeline.

Exam Tip

Pay close attention to the order of steps in conveyancing scenarios. Exam questions often include answer options that describe correct actions at the wrong point in the transaction.

How This Appears in SQE1 Questions

SQE1 questions on this topic use transactional scenarios asking you to:

  • Identify the correct next step in the process
  • Select the appropriate document or search
  • Recognize the legal consequences of events
  • Advise on party obligations and timings

SQE1 questions may test this distinction repeatedly — you need to know precisely what legal effects flow from completion and when remedies become available.

Key patterns to watch for:

  • Questions that test whether you know the correct sequence
  • Scenarios involving both buyer and seller (or buyer and lender) obligations
  • Time-sensitive requirements and deadlines
  • Different procedures for different property types

Common Mistakes Students Make

Students often struggle with:

  • Confusing the order of steps in the conveyancing timeline
  • Applying rules from different stages to the wrong scenario
  • Overlooking procedural requirements
  • Forgetting time limits and deadlines

Quick Summary

  • Completion in Property Transactions requires understanding both the law and the practical steps involved.
  • Work systematically through the procedural timeline and practise applying the rules to realistic scenarios.

Want to test this now? Try a few SQE1-style questions below before moving on.

Test Yourself

Test yourself

Quick check questions based on this article.

Question 1

Scenario

A solicitor is acting for a buyer in the purchase of a registered freehold residential property for £425,000. The buyer has a mortgage offer from a building society for £340,000. Contracts were exchanged four weeks ago with completion fixed for today. The buyer's solicitor has carried out pre-completion searches, including an official search with priority at the Land Registry, which was received 10 days ago. The search revealed no adverse entries. The buyer's solicitor has received the mortgage advance from the building society and holds the balance of the purchase price on client account. The buyer's solicitor has prepared the completion statement and the transfer deed has been executed by the seller. The seller's solicitor has confirmed they are ready to complete. However, shortly before the agreed completion time, the buyer's solicitor receives a telephone call from the buyer who states that they have changed their mind and no longer wish to proceed with the purchase. The buyer asks the solicitor not to complete.

What is the most appropriate course of action for the buyer's solicitor?

Question 2

Scenario

A solicitor is acting for a buyer in the purchase of a residential property. Completion is scheduled for Friday. On Thursday afternoon, the solicitor receives the mortgage advance from the lender by telegraphic transfer into the client account. On Friday morning, before completion, the buyer telephones the solicitor and says that she has changed her mind about the purchase and no longer wishes to proceed. The buyer instructs the solicitor to return the mortgage advance to the lender and not to complete. The solicitor notes that the contract has been exchanged and the buyer is contractually bound to complete. The seller's solicitor has confirmed that the seller is ready to complete. The deposit of £35,000 is held by the seller's solicitor as stakeholder. The buyer says she has received a better offer on another property. The solicitor has already requisitioned the transfer deed from the seller's solicitor. The buyer's solicitor considers the obligations owed to the buyer, the lender, and the seller. The mortgage advance was received subject to the lender's instructions that it be used solely for the purpose of the purchase.

Which of the following best describes the solicitor's obligations in this situation?

Question 3

Scenario

A solicitor acts for a buyer who exchanged contracts for the purchase of a freehold residential property four weeks ago. The contract incorporates the Standard Conditions of Sale (5th edition). The agreed completion date was last Friday. The seller has failed to complete on the agreed date. The buyer's solicitor has contacted the seller's solicitor, who has confirmed that the seller is experiencing difficulty obtaining a redemption statement from the seller's mortgage lender. The seller's solicitor estimates that the redemption statement will be available within five working days. The buyer is living in rented accommodation and is incurring daily rental costs. The buyer recently changed jobs, though this has no connection to the property transaction. The buyer wishes to know what remedies are available for the delayed completion. The buyer does not wish to rescind the contract at this stage but wants to be compensated for the delay. The contract does not contain any special conditions relating to delayed completion.

What is the buyer's primary contractual remedy for the delayed completion?

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